2/1/2012

Brazil's sugar mills are unlikely to favor ethanol production unless the average price of sugar in the global market falls to below 21 cents per pound, according to Morgan Stanley. "Strong gasoline demand in Brazil has also led to an increase in anhydrous ethanol demand, though economics still support sugar production over ethanol down to a sugar price of 21 cents a pound," said Hussein Allidina, head of commodities research for Morgan Stanley.

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