Brazil’s Chamber of Foreign Trade (CAMEX) has postponed a decision on whether to reinstate tariffs on U.S. ethanol until next month. Brazilian sugarcane and ethanol producer associations had proposed reinstating the ethanol import tariffs following a recent surge in shipments coming in from the United States. Brazil was the top destination for U.S. ethanol in March, according to RFA, with nearly 30% of total market share.
The Renewable Fuels Association (RFA), Growth Energy and the U.S. Grains Council expressed their concern about the situation in a joint statement, citing the potential consequences facing Brazil should they re-instate the import tariff on U.S. ethanol.
Listen to comments from RFA president and CEO Bob Dinneen here: RFA CEO Bob Dinneen comments on Brazil considering ethanol tariffs