Brazil Ethanol Exports to Drop to 11-Year Low, Dreyfus Unit Says
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Ethanol exports from Brazil, the world’s largest shipper, are expected to drop to the lowest in 11 years as the U.S. plans to cut biofuel mandates, an official at a Louis Dreyfus Holding BV unit said.
Brazil will ship 395.8 million gallons (1.5 billion liters) this year, down 46 percent from last year’s 738.8 million gallons, Enrico Biancheri, commercial officer at Sao Paulo-based Biosev SA, said. That’s the lowest since 2003, according to data from sugarcane industry group Unica.