Greenergy, the UK-based fuel supplier, has made its first import of diesel for sale within Brazil,
a market historically supplied predominantly from domestic production. Its first diesel shipment arrived
in Brazil today, discharging at Santos and then at Paranagua.
The import takes advantage of a short-term trading window created by lower international diesel prices, a favourable US Dollar-Real exchange rate and inflated domestic diesel prices within the Brazilian market.
Andrew Owens said:
“As an exporter of ethanol from Brazil over ten years, we have developed long-standing relationships with storage companies and diesel users in Brazil. We have now been able to leverage those relationships to develop an arbitrage opportunity, to deliver competitive pricing in a market that has historically been closed to us. We anticipate similar supply opportunities in the months ahead.”
Greenergy has had a trading presence in Brazil for more than ten years as an exporter of sustainably produced ethanol from Brazil to the UK and, more recently, from Brazil to the US. EU import duties have kept the EU ethanol market largely closed to Brazil over recent years, but this week Greenergy also received an ethanol shipment from Brazil into Rotterdam, also made possible by a short-term trading window.