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Listen: RenovaBio puts ethanol under the spotlight at Sao Paulo Sugar Week

Ethanol has been at the forefront of the discussions at Sugar Week in Sao Paulo.

The ethanol story will most probably remain bullish, with the renewable fuel accounting for more than 45% of Brazil's total gasoline pool since 2018 and the launch of the RenovaBio program in 2020.

The program's successful implementation would likely mean a point of no return on maxing ethanol in the sugarcane mix. This increases the probability of the forecast 6 million mt sugar deficit in 2019-20 being met.

S&P Global Platts editors Nicolle Monteiro de Castro, Claudiu Covrig and Beatriz Pupo look at the forces shaping the market.