Brazil ethanol mill prices down about 2% - Cepea

02 April 2008 17:36  [Source: ICIS news]

HOUSTON (ICIS news)--Brazil’s ethanol prices fell on average by about 2% in the week ending 28 March, compared with the previous week, according to data on Wednesday from research group Cepea.

Cepea assessed anhydrous ethanol at Brazilian reais (R) 0.82037/litre ($1.78/gal), down by 1.62% from R0.83386/litre in the week ended 21 March.

Hydrous ethanol was assessed at R0.74479/litre, down by 2.28% from R0.76220/litre in the previous week

Cepea attributed the drop to the start of the sugarcane harvest in the centre-south region, which accounts for more than 85% of Brazil’s ethanol production.

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 = R1.74)

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By: William Lemos
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