In the first quarter of 2022, the Ethanol pricing in the North American market fluctuated from USD775/ton, FOB Texas to USD 870/ton, FOB Texas USA towards the first quarter end of 2022. As compared with Q4 of 2021, the prices have witnessed a decline of 19% in Q1 of 2022, as the tension between Russia and Ukraine escalated and ethanol manufacturers faced tight supplies from feed (corn) producers. The prices of corn skyrocketed during this quarter, as a ripple effect, the production cost of Ethanol soared towards the quarter end. These all factors have contributed largely to the prices of Ethanol in the North American market.