In Brazil, Reuters reports that sugarcane millers have decided to leave the ethanol market to their corn-based bretheren, at least in part, in order to produce more sugar, which currently provides a better return. When the next sugarcane season kicks off in April, millers plan to divert 10% more cane towards sugar production instead of ethanol as sugar remains near record highs, even though they are lower than the 12-year high seen in November, with sugar prices 40% higher than the ethanol equivalent. That’s the biggest gap seen in 15 years.
Tags: Brazil, ethanol, sugar
Category: Fuels
