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Americas Asia Ethanol US

Fuel ethanol prices continue to rise, with freight to Asia becoming more competitive

Values stayed well supported in the B-grade Ulsan market on Monday, pegged around 469USD/m3 for October delivery. The Brazilian Real fell further on Friday to 0.254 against the US dollar, finishing the week down 2% WoW. Interest in the Brazilian markets continues to concentrate on November loading, with value fob Brazil staying around 400USD/m3 for Sept/Oct and slightly higher at 405USD/m3 for November, although the bid/offer spread remained wide on Friday.

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Fuel ethanol prices continue to rise in both the US and Asia, despite falling US feedstock prices. Freight prices are becoming more competitive for shipments from the US to Asia, as there is ample supply of available vessels for shipments from the US.

Brazilian ethanol exports to the US have fallen 4% MoM for September, although expectations that California will reconfirm the LCFS credit trading scheme next week could leave Brazilian ethanol a more attractive import into the US than Asia.

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