Ethanol Production Soars in USA, Brazil
May 29, 2013News article: http://www.ethanolproducer.com/articles/9898/ethanol-production-hits-11-month-high-discount-to-gas-22-cents
News article: http://www.reuters.com/article/2013/05/28/brazil-sugar-unica-idUSE5E8JA01720130528
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Recent data shows that ethanol production in USA and Brazil is ramping up.
The U.S. Energy Information Administration data shows that ethanol production reached the highest weekly average since the end of June last year. Ethanol production averaged 875,000 barrels per day in the week ending May 17, an increase of 18,000 barrels per day from the previous week.
Brazil's main sugarcane industry association UNICA has reported that ethanol production during the first half of May is up by 146 percent on the year. It also reported that sugar production increased by 140 percent on the year, citing benefits from the dry weather. Sugar mills have been shifting their production toward ethanol with the weak international price of sugar and the improved returns for ethanol on the local market due to government incentives.
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