Ethanol demand lifts Valero's profits

Texas-based Valero is reaping the benefits of buying seven corn ethanol plants for $477 million (€316 million).

The company’s high profits are linked to an increase in demand for ethanol. This is most likely due to the low prices of corn and the government mandates to boost usage.

Valero’s profits are spurring producers on to ask the EPA to increase the blend of ethanol in petrol from 10% to 15%.

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