29 April 2008 22:36 [Source: ICIS news]
HOUSTON (ICIS news)--Brazilian ethanol mill prices rebounded in the week ended 25 April, after dropping for four weeks in a row, as stronger demand and tighter supply provided a support floor to domestic prices, research group Cepea said on Tuesday.
Cepea assessed anhydrous ethanol at Brazilian reais (R) 0.7959/litre ($1.78/gal), up by 2.98% from R0.7728/litre in the week ended 18 April.
Hydrous ethanol was assessed at R0.7251/litre, up by 4% from R0.6972/litre in the previous week.
Cepea attributed the drop in supply to bad weather in the key centre-south region.
Heavy rainfall in the centre-south in the past two weeks has interrupted the restart of several ethanol mills, market sources said.
Centre-south mills operate from April to November, the months that coincide with the sugarcane harvest in the south of ?xml:namespace>
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
($1 = R1.69)
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