09 December 2008 15:58 [Source: ICIS news]
Cepea assessed anhydrous ethanol at Brazilian reais (R) 0.8774/litre ($1.32/gal), down by 2.2% from R0.8972/litre a week earlier.
Hydrous ethanol was assessed at R0.7362/litre, down by 0.3% from R0.7387/litre in the previous week.
A weakening in the Brazilian real this week accounted for an additional 7% drop in spot values when priced in US dollars.
The real traded at about R2.51/US dollar on Tuesday. That compares with R2.33/dollar one week ago.
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 = R2.51)
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