Brazilian ethanol price drivers to remain volatile in 2022

Sugar’s strong price premium over ethanol, volatility in the Brazilian real/US dollar exchange rate, and unknown changes in the Petrobras ex-refinery gasoline price will remain key drivers for Center-South ethanol prices in 2022. Sugar premium over ethanol “Although the 2022-23 crop should witness a slightly higher sugar mix at 46.2 per cent compared to 45.2