Brazil ethanol prices up on reduced offers

15 July 2008 21:42  [Source: ICIS news]

HOUSTON (ICIS news)--Brazil’s ethanol mill prices rose in the week ended 11 July amid reduced offers and slightly higher demand in the domestic market, research group Cepea said on Tuesday.

Cepea assessed hydrous ethanol at Brazilian reais (R)0.7235/litre ($1.72/gal), up by 1.4% from R0.7138/litre in the previous week. Anhydrous ethanol was assessed at R0.8824/litre, up by 8.3% from R0.8147/litre a week earlier.

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

Cepea also attributed the price increase last week to sustained support from foreign demand for the product.

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 = R1.59)

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By: William Lemos
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