Brazil ethanol prices drop on continued supply pressure

10 March 2009 15:49  [Source: ICIS news]

HOUSTON (ICIS news)--Brazilian ethanol prices continued to drop in the week ended 6 March, pressured by ample supply and limited buying interest, research group Cepea said on Tuesday.

Cepea assessed hydrous ethanol at Brazilian reais (R) 0.6927/litre ($1.10/gal) last week, a 2.5% drop from R0.7107/litre in the week ended 27 February.

Anhydrous ethanol was assessed at R0.7818/litre, down by 5.6% from R0.8280 a week earlier.

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

Cepea’s price assessments are ex-tank and do not include taxes.

($1 = R2.37)

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By: William Lemos
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