High oil prices firm up market for Brazilian ethanol

09/20/2004
High international oil prices mean that Brazilian ethanol is rapidly winning a place in new markets, according to findings by consultant Júlio Maria Borges, director of the JOB Economy & Planning consulting firm in Brazil.Borges said that, between May and July, the country exported 764 million l. of ethanol, compared with 92 million l. over the same period last year, an increase based not entirely on the environmental appeal of ethanol as a less-said polluting car fuel."This growth is motivated by prices," he said. "With oil prices hovering at $40-50[/bbl] on the international market, ethanol at $32-33/bbl becomes attractive."Borges said that the hotter rhythm of current exports mean...
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