21 September 2012 17:33 [Source: ICIS news]
HOUSTON (ICIS)--Ethanol exports from Brazil soared in August as falling ethanol prices there opened a trade window, according to data from a leading shipping agent on Friday.
Ethanol exports totalled 260,928 tonnes in August, up by 88% compared with 138,527 tonnes in the same month of 2011, according to data from the Williams Shipping Agency. Williams is one of the largest shipping agencies in Brazil.
Brazil’s ethanol supply has increased this year while domestic demand has remained sluggish, according to buyers and sellers.
The industry group Unica expects a 5.1% increase this year in the sugarcane harvest in Brazil's key centre-south region over 2011. The centre-south accounts for 90% of Brazil's ethanol production.
Nine vessels accounted for 76% of the August shipments, with all the shipments going to the US except one to Jamaica.
The largest ethanol shipment, 32,126 tonnes on the MTM Hong Kong, travelled to an unnamed US port.
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