Two of Brazil’s largest fuel distributors said on Monday they are cutting the amount of ethanol they will buy from local suppliers to adjust to a slump in demand amid the coronavirus lockdown in Latin America’s largest economy, reports Reuters.
Brazil’s number 1 fuel distributor, BR Distribuidora , said it will reduce the amount of ethanol it buys from Brazilian mills, and Raizen Combustiveis SA, which is owned by Brazil’s Cosan SA and Royal Dutch Shell Plc, declared force majeure.
