Despite heavy pressure from the US, Brazil will maintain tariffs on US ethanol imports. Brazil increased its tariff on ethanol imported from the US from 16% to 18% this year.

The decline in urea prices has come to a temporary halt mainly due to uncertainty over the confusing export restriction policy in China. Other fertiliser markets are quiet. Ammonia could gain some temporary support from a Ma’aden plant shutdown.

China imported 220,000 tonnes of liquid sugar and 100,000 tonnes of premix powder in Q1’24. But customs have now decided to regulate whites imports in bonded area for liquids and premix. Could it affect China’s white sugar demand?

The legislation is expected to come into force this year, after being approved in the Senate. Around BRL 200 billion should be invested by the end of the decade in the production of SAF, biodiesel and biomethane to meet decarbonization goals.