The competitiveness of Brazilian ethanol in the international market, particularly in Europe, is expected to remain limited compared to U.S. ethanol, according to a report by Datagro. The document cites structural differences in costs, logistics, and exchange rates. The analysis highlights that arbitrage – an indicator that measures the profitability of exports by comparing the selling price at the destination with all logistics, tax, and financial costs – continues to be more favorable to the United States than to Brazil. Currently, the operation of shipping U.S. ethanol to Europe presents a positive margin of 39.3%, while Brazilian ethanol reaches 18.1%. Starting in June, with the stabilization of prices in the European market, the scenario tends to worsen for the national product: the arbitrage is expected to become negative, averaging -4.7%, indicating economic unfeasibility of exports, while U.S. ethanol will still maintain a positive margin close to 8.1%. The U.S. advance in ...