By Marcelo Teixeira<\/p>\n
NEW YORK, May 15 (Reuters) – The United States and Brazil, the two largest producers of ethanol, are looking at a jump in exports of the biofuel this year due to movements \u200cby several consuming countries to increase their sources of fuels as the Strait of Hormuz crisis drags \u200con.<\/p>\n
The U.S. is seeing a jump of 20% in ethanol exports so far this year, on top of record shipments last year, while Brazil \u200bcould more than double its foreign sales in the new trading season (2026\/27) that started in April, representatives for the biofuels industry told Reuters this week.<\/p>\n
The new market would be a blessing for corn producers and processors in the U.S., as well as for cane growers and mills in Brazil, as they increase production and boost demand for grains and sucrose, supporting prices \u200cfor those markets.<\/p>\n
It would be a new \u2060chance for an old plan by the two countries to create a global ethanol market that was once discussed and agreed to by U.S. President George W. Bush and Brazilian \u2060President Luiz Inacio Lula da Silva during a state visit by the American to Brazil in 2007.<\/p>\n
U.S. ethanol industry group RFA says exports of 638 million gallons in the first quarter are 20% higher year-on-year.<\/p>\n
Brazil’s consultancy Datagro estimated ethanol exports will reach 2.2 \u200bbillion \u200bliters (581.1 million gallons) in the new season from 1 billion liters \u200bin the previous.<\/p>\n
“There are countries around the world \u200cthat are looking to get their hands on any source of liquid fuel they can find,” said Geoff Cooper, RFA’s chief executive, adding that U.S. ethanol prices are currently competitive compared to gasoline.<\/p>\n
Several countries, particularly in Asia, are raising ethanol blending rates in gasoline, Datagro’s chief analyst Plinio Nastari said.<\/p>\n
“Some of them have some production, but they will need to import part of that ethanol,” he said.<\/p>\n
Even if there is a deal soon between Iran and the U.S. to \u200creopen Hormuz, renewable energy makers believe the higher demand is here \u200bto stay, due to energy security.<\/p>\n
Countries around the world want to \u200breduce their dependence on one big source of energy \u200bsuch as the Middle East, where tensions will likely continue high even if there is \u200ca deal, said Shameek Konar, head of energy \u200bat Ara Partners, a private equity \u200bfirm investing in renewable energy projects in the U.S., including biofuels.<\/p>\n
“This conflict brought energy security in the focus of every policy maker in the world,” he said during a presentation at the BMO Farm to \u200bMarket Conference in New York.<\/p>\n","protected":false},"excerpt":{"rendered":"By Marcelo Teixeira NEW YORK, May 15 (Reuters) – The United States and Brazil, the two largest producers…\n","protected":false},"author":2,"featured_media":486620,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[174],"tags":[377,79,179,18,212464,212463,19,17],"class_list":["post-486619","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-brazil","tag-business","tag-economy","tag-eire","tag-ethanol-industry","tag-ethanol-production","tag-ie","tag-ireland"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/116580613361305513","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/486619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=486619"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/486619\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/486620"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=486619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=486619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=486619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}