Brazilian ethanol exports tumbled in May, down 35% month on month at 83.6 million liters and down 30% from a year ago, SECEX data showed Thursday.
The FOB price declared by shippers to customs was on average $555.90/cu m, down 7% from April, but up 20% from a year ago.
The S&P Global Platts assessment of FOB Santos anhydrous averaged at $549/cu m in May.
In the first five months of the year, Brazil ethanol exports totaled 432 million liters, down 48% year on year.
The majority of volumes exported in May is expected to have been sent to the US.
January through April exports to the US totaled 305 million liters, up 8% year on year.
In contrast, over the same period, the exports to South Korea declined dramatically to just 6 million liters, compared with 252 million liters exported over January-April 2016.
More competitive prices from other origins, such as the US and Peru, have taken away Brazil's share in South Korean market.
The S&P Global Platts assessment of FOB Santos Grade B averaged $493/cu m in May, compared to $478/cu m in the same period last year.
With the recent drop in ex-mill prices and the new real value against the US dollar, FOB prices have decreased sharply.
Prices might start to become more interesting and attract buying interest toward the peak of the crop (July-August), sources said.
S&P Global Platts assessed FOB Santos Grade B at $469/cu m on June 1, down from $516/cu m in the beginning of May.
FOB Santos anhydrous was assessed at $523/cu m, down from $565/cu m a month ago.
