Brazil ethanol prices continue to fall - Cepea

15 January 2008 17:41  [Source: ICIS news]

HOUSTON (ICIS news)--Brazilian ethanol mill prices fell again in the week ended 11 January, as some producers continued to offer the biofuel at reduced prices in a bid to raise prompt cash, research group Cepea said on Tuesday.

Cepea assessed anhydrous ethanol at Brazilian reais (R) 0.79915/litre ($1.74/gal). That compares with R0.82621/litre in the week ended 4 January.

Hydrous ethanol was assessed at R0.71187/litre last week, down from R0.73306/litre a week earlier.

Brazil uses hydrous ethanol as a stand-alone fuel, while anhydrous ethanol is blended in gasoline at 25%.

Spot market activity last week was weaker in comparison with the previous week, Cepea said, adding that ethanol mill prices have dropped for five weeks in a row.

Cepea’s price assessments do not include a federal tax of 3.65% levied on both hydrous and anhydrous product. A state tax of 12% is also applied to hydrous ethanol in Sao Paulo.

($1.00 = R1.73)

Bookmark Simon Robinson’s Big Biofuels Blog for some independent thinking on biofuels.

By: William Lemos
+1 713 525 2653

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