Ethanol price increases 50% in Brazil

Ethanol (E100) price at the pump in Brazil increased more than 50% in some States, in a few months, for two reasons.
The low sugar-cane production at this time of the year (the wet season in Southeastern Brazil), and the low production of the Indian sugar cane crop this year, which led to a sharp increase in sugar prices, driving Brazilian mills’ interest to that market and reducing Ethanol production.

Brazilian government announced a reduction on the percentage of ethanol blended into gasoline (from E25 to E20), aiming to increase ethanol availability and reducing E100 prices.