Corn Ethanol Continues Rapid Expansion in Brazil
Corn ethanol production in Brazil continues its rapid expansion. According to Itau BBA, corn ethanol accounted for 2% of Brazil’s total ethanol production in 2019. That expanded to 19% in 2023/24, and it is expected to hit 22% within the next two years.
Itau BBA analyzed 22 new ethanol facilities or expansion projects and determined that if all the projects were built, the demand for corn would increase more than 14 million tons. Investments in these new facilities will exceed R$ 20 billion and these new facilities would increase corn ethanol production to more than 6 billion liters by 2028.
The director of credit at Itau BBA feels Brazil can consolidate its leadership in sustainable biofuel production at the same time strengthening the Brazilian economy.
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