Brazil ethanol mill prices down on slow market

27 May 2008 15:23  [Source: ICIS news]

HOUSTON (ICIS news)--Brazil’s ethanol mill prices were down during the week ended 23 May, following weak spot activity due to a national holiday, research group Cepea said on Tuesday.

Increased supply and weaker buyer interest, due to the holiday on 22 May, put additional pressure on domestic ethanol prices, the research group said.

Cepea assessed hydrous ethanol at reais (R) 0.6600/litre ($1.50/gal), down by 5.1% from R0.6955/litre in the previous week. Anhydrous ethanol was assessed at R0.8220/litre, down by 1.3% from R0.8326/litre a week earlier.

Brazil uses hydrous ethanol as a stand-alone fuel and blends anhydrous in regular gasoline at 25%.

Cepea’s price assessments are ex-tank and 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 = R1.66)

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By: William Lemos
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