He went down 12-14, 9-11,7-11, 7-11, 5-11 to Brazlian Caldrano Hugo.
Amalraj had lost to compatriot Soumyajit Ghosh in the Chile Open final but had managed to win the doubles title in the company of Ghosh.
The eighth seeded Amalraj, who was in the best form of his life in recent times, had very little chance against Hugo who was the toast of the nation and also the tournament's top seed.
The Brazilian won the extended first game 14-12, while losing the next to Amalraj. But then a more determined Hugo, egged on by the local crowd, simply proved his superiority and rolled past his Indian rival to claim the title.
Strong with his backhand and noticeably over the table, after winning five straight points in the fifth game Hugo moved from 4-all to 9-4. Amalraj did win a point but he could not do much against the rampaging Hugo.
Despite the two final losses, Amalraj can take heart from the fact that his trip to South America has been more rewarding than it was ever elsewhere as on both occasions he had exceeded expectations.
Disclaimer: No Business Standard Journalist was involved in creation of this content