Brazil ethanol prices remain on free-fall trend

24 March 2009 18:25  [Source: ICIS news]

HOUSTON (ICIS news)--Brazilian ethanol prices remained on a downward trend in the week ended 20 March due to continued ample supply and limited buying interest, research group Cepea said on Tuesday.

Cepea assessed hydrous ethanol at Brazilian reais (R) 0.6396/litre ($1.08/gal) last week, a 6.1% drop from R0.6809/litre in the week ended 13 March.

Anhydrous ethanol was assessed at R0.7234/litre, down by 5.5% from R0.7657 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 = R2.25)

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By: William Lemos
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