High gasoline prices to boost Brazil ethanol use

Newswire

By Inae Riveras SAO PAULO, Brazil, May 18 (Reuters) - Brazilian motorists should consume more cane-based ethanol fuel in 2004/05 (May-April) than previously forecast if gasoline prices remain high, the Sao Paulo Cane Agroindustry Union said on Tuesday. Gasoline prices are expected to rise in Brazil due to high world oil prices and the depreciation of the Brazilian real against the dollar, Unica said, noting that producers have begun harvesting a record sugarcane crop. "If this level of ...

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