{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,1,26]],"date-time":"2026-01-26T03:34:56Z","timestamp":1769398496135,"version":"3.49.0"},"reference-count":35,"publisher":"MDPI AG","issue":"6","license":[{"start":{"date-parts":[[2023,3,17]],"date-time":"2023-03-17T00:00:00Z","timestamp":1679011200000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"funder":[{"name":"Coordena\u00e7\u00e3o de Aperfei\u00e7oamento de Pessoal de N\u00edvel Superior (CAPES)","award":["88881.135445\/2016-01"],"award-info":[{"award-number":["88881.135445\/2016-01"]}]},{"name":"Scholarship CAPES in Lisbon School of Economics &amp; Management\/Universidade de Lisboa","award":["88881.135445\/2016-01"],"award-info":[{"award-number":["88881.135445\/2016-01"]}]}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Energies"],"abstract":"<jats:p>In this article, we seek to present the synthesis of the global ethanol market in the United States (US) and Brazil by using caloric equivalence to empirically characterize the elasticity of supply and demand. We also seek to evaluate the relationship between world ethanol production and prices of agricultural commodities (wheat, rice, corn, soybeans and sugar) from 1981 to 2016 using climate-induced yield shocks as instrumental variables. The main results for the world market indicate that the production and demand for ethanol respond elastically to changes in commodity prices. The world ethanol production has no significant relationship with food prices. However, evaluation of the ethanol market and its interaction with the agricultural commodities market confirms the hypothesis that Brazilian ethanol is weakly related to the price of food.<\/jats:p>","DOI":"10.3390\/en16062788","type":"journal-article","created":{"date-parts":[[2023,3,17]],"date-time":"2023-03-17T03:33:57Z","timestamp":1679024037000},"page":"2788","update-policy":"https:\/\/doi.org\/10.3390\/mdpi_crossmark_policy","source":"Crossref","is-referenced-by-count":1,"title":["The Ethanol Market and Its Relation to the Price of Agricultural Commodities"],"prefix":"10.3390","volume":"16","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-1017-8975","authenticated-orcid":false,"given":"Paulo Henrique","family":"Hoeckel","sequence":"first","affiliation":[{"name":"Department of Economics, Federal University of Grande Dourados, Dourados 79825-070, Mato Grosso do Sul, Brazil"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-0130-6880","authenticated-orcid":false,"given":"Augusto Mussi","family":"Alvim","sequence":"additional","affiliation":[{"name":"Business School, Pontifical Catholic University of Rio Grande do Sul, Porto Alegre 90619-900, Rio Grande do Sul, Brazil"}]},{"ORCID":"https:\/\/orcid.org\/0000-0001-9391-428X","authenticated-orcid":false,"given":"Jos\u00e9 Pedro","family":"Pontes","sequence":"additional","affiliation":[{"name":"Lisbon School of Economics and Management, Universidade de Lisboa, 1200-781 Lisbon, Portugal"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-1458-2051","authenticated-orcid":false,"given":"Jo\u00e3o","family":"Dias","sequence":"additional","affiliation":[{"name":"Lisbon School of Economics and Management, Universidade de Lisboa, 1200-781 Lisbon, Portugal"}]}],"member":"1968","published-online":{"date-parts":[[2023,3,17]]},"reference":[{"key":"ref_1","unstructured":"IEA (2018, June 18). 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