SAO PAULO (Dow Jones)--Brazil's November ethanol exports, including fuel and industrial ethanol, remained heavily focused on European ports, the Williams Shipping Agency said Thursday.
The country shipped around 302 million liters of ethanol in November, down from over 500 million shipped in November 2006.
Of the 30 ships loading ethanol last month, 19 were heading to European ports, with most going to Rotterdam.
Only one shipment, made by Coimex and Vertical UK, went to the U.S. in early November.
Five shipments went to Caribbean ports like San Juan, Puerto Rico and Kingston, Jamaica. Some of that ethanol is re-exported to the U.S.
Louis Dreyfus Commodities' Bioenergia shipped around 5 million liters to San Juan.
"Exports of ethanol are declining because our main buyer, the U.S., has a surplus of ethanol and is no longer tapping the Brazilian market for supply," said Fabio Meneghin, a sugar and ethanol market consultant at Agroconsult.
Brazil is the world's leading ethanol exporter.
Source: Kenneth Rapoza, Dow Jones Newswires;5511-3145-1488; kenneth.rapoza@dowjones.com