On January 31, 2023 the Government of Brazil increased the import duty on ethanol to Brazil to 16 percent. The Government of Brazil increased the biodiesel blend to 12 percent, effective April 1, 2023. RenovaBio, Brazil’s National Biofuels Policy, picked up momentum once Brazil’s B3 stock exchange started trading CBios in April 2020. CBio average prices reached record highs not previously seen.
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