Brazil ethanol prices drop on ample supply

28 October 2008 22:11  [Source: ICIS news]

HOUSTON (ICIS news)--Brazilian ethanol prices were down in the week ended 24 October amid continued ample supply in the spot market, research group Cepea said on Tuesday.

Cepea assessed anhydrous ethanol at Brazilian reais (R) 0.8874/litre ($1.49/gal), down by 3.6% from R0.9203/litre a week earlier.

Hydrous ethanol was assessed at R0.7112/litre, also down by 3.6% from R0.7376/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 taxes.

($1 = R2.25)

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By: William Lemos
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