Brazil ethanol prices keep on rising - Cepea

HOUSTON (ICIS news)--Brazil’s ethanol prices rose again in the week ended 12 September as sellers continued to push for higher prices, most noticeably on the anhydrous side, research group Cepea said on Tuesday.

Cepea assessed anhydrous ethanol at Brazilian reais (R) 0.8922/litre ($1.86/gal), up by 2.1% from R0.8740/litre a week earlier. Hydrous ethanol was assessed at R0.7428/litre, up by 0.4% from R0.7394/litre in the previous week.

Brazil uses hydrous ethanol as a stand-alone fuel in flexible-fuel vehicles (FFVs), while anhydrous is blended 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 = R1.81)

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