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Asia Ethanol US

South Korean imports of Brazilian B-grade ethanol up 50% in July

Spot value for B-grade ethanol sat at 497USD/m3 today, with a large spread sitting between offers of 510USD/m3 and bids of around 490USD/m3. July imports of B-grade ethanol into South Korea rose 9% MoM, driven mainly by a rise in Brazilian ethanol imports of 50% MoM. However, a huge drop in imports of Pakistani ethanol of 84% MoM and 93% YoY has left South Korea B-grade ethanol imports down 10% on 2014 levels. Brazilian B-grade ethanol accounted for 86% of Korean imports in July, with Pakistan only accounting for 4%. Cambodia stepped in to make up for some of the drop in Pakistani supply, with South Korea importing a slither of 998m3 of Cambodian ethanol in July. Corn and ethanol prices in the US both moved higher yesterday, while the arb for imports of ethanol to west coast US from Brazil is looking more attractive.

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