Record High Ethanol Fuel Export in 2008

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Global Bioenergy Industry News

Monday, January 26, 2009

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Record High Ethanol Fuel Export in 2008

RIO DE JANEIRO - Brazil exported a record-high of 5.16 billion liters of ethanol fuel in 2008, up 45.7 per cent from 2007, according to a report released on Friday by the Ministry of Mines and Energy.

The results showed that Brazil consolidated itself as the world's leading exporter in this sector. The amount of ethanol fuel exported in 2008 was over two times higher than the exports of gasoline made by state-owned oil giant Petrobras in the same period.

The fuel was sold for 0.47 US dollars per liter in 2008, up 16 per cent from 2007. The United States remained the biggest buyer for the Brazilian ethanol, importing 2.8 billion liters in the year.

According to the report, the domestic market is also having good results. An increase in the consumption of ethanol is expected for 2009, due to the increasing number of flexible-fuel cars in the Brazilian fleet.

The report said that adding the bio-diesel oil to the regular diesel oil, which was 2 percent in the first half of last year, and 3 per cent in the second half, led to saving about 976 million US dollars in 2008. The amount refers to the reduction of 1.1 billion liters of diesel fuel imported in Brazil last year.

In the report, the Ministry also defended the addition of biofuel to the oil-based fuel, qualifying it beneficial to the Brazilian trade balance and all the local economic sectors.

There are 51 biodiesel production plants in Brazil. The fuel has been praised as better for the environment than oil, but has come under criticism for contributing to rising food prices worldwide.

TheBioenergySite News Desk