Bunge is shipping 3.3 million gallons of U.S. ethanol to the Port of Itaqui, Brazil to help that country meet its domestic demand. In the first 11 months of 2013 fuel consumption in Brazil increased 5.1% from the same period a year before. Approximately 61% of passenger cars in Brazil are flex-fuel vehicles, and the remainder run on either pure ethanol or E25 – a blend of 25% biofuel to 75% gasoline. Insufficient logistical systems in Brazil make it more cost effective for blenders in the northeast of the country to import ethanol from the U.S. than to buy it domestically. Ethanol imports are expected to continue until the next harvest begins in March.
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