The expiration and/or renewal date of the current TRQ for ethanol imports into Brazil is rapidly approaching; the current TRQ expires on 31 August. As we reported on 3 August, Brazil imposed a TRQ on ethanol in 2017. Last year the TRQ volume was increased from 150 million liters per quarter (600 million liters – or 158 million gallons - annually) to 750 million liters (198 million gallons), but it is based on seasonal restrictions:
31 Aug 2019 - 29 Feb 2020: import quota of 200 million liters per quarter
1 March - 30 Aug 2020: import quota of 275 million liters per quarter
The out of quota tariff is 20 percent. The U.S. has had 95 - 98 percent of the ethanol import market share in Brazil since 2017. From 2012 &ndas...
Macro: Treasury Squeezes Yields, the Dollar Gives Way Today’s markets are offering a lesson in pressure: it rarely disappears — it simply moves. The U.S. Treasury stepped into the bond market after long-term yields surged to levels not seen in nearly two decades. By announcing plans...
Key Takeaways: With cattle supplies historically tight and packer margins deeply negative, beef processors are reducing excess slaughter capacity, with decisions over which plants to close driven by cattle availability, operating efficiency, and the ability to maintain high utilization rates...
