Brazil ethanol prices down on new crop - Cepea

08 April 2008 20:28  [Source: ICIS news]

HOUSTON (ICIS news)--Brazilian ethanol prices continued to drop in the week ended on 4 April, pressured by the start of the sugarcane harvest in the centre-south region, research group Cepea said on Tuesday.

Centre-south mills produce ethanol from April to November. The region accounts for more than 85% of Brazil’s production of the biofuel.

Cepea assessed anhydrous ethanol at Brazilian reais (R) 0.80765/litre ($1.79/gal), down by 1.55% from R0.82037/litre in the week ended 28 March.

Hydrous ethanol was assessed at R0.72138/litre, down by 3.14% from R0.74479/litre in the previous week

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 = R1.70)

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By: William Lemos
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