Brazil ethanol prices up on tight supply - Cepea

22 July 2008 20:41  [Source: ICIS news]

HOUSTON (ICIS news)--Brazil’s ethanol mill prices remained on an upward trend in the week ended 18 July due to continued firm demand and tight supply, research group Cepea said on Tuesday.

Cepea assessed hydrous ethanol at Brazilian reais (R) 0.7251/litre ($1.73/gal), up by 0.2% from R0.7235/litre in the previous week. Anhydrous ethanol was assessed at R0.8897/litre, up by 0.8% from R0.8824/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 = R1.58)

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By: William Lemos
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