It looks like E10 is not as green as it should be. Because in the US and Mexico ethanol is derived from corn which is a food staple for both livestock and people, it has caused higher demand for corn which in turn has led to a drastic increase in the prices of corn and meat products.
But meanwhile, sugarcane-based ethanol producing countries won’t be as much affected since sugarcane derived foods are not really food staples. In fact, sugar is not even fashionable these days.
This should be a temporary situation as the corn growers ramp up their production to meet demand from food producers and fuel manufacturers. At that time, prices should stabilize. But this is a window of opportunity to export sugarcane-based ethanol.