Brazil ethanol prices drop 14% in one week – Cepea

05 May 2009 16:24  [Source: ICIS news]

HOUSTON (ICIS news)--Brazil’s hydrous ethanol prices fell by 14% in the week ended 1 May from a week earlier, pressured by a jump in supply and softer buyer interest, research group Cepea said on Tuesday.

Cepea assessed hydrous ethanol at Brazilian reais (R) 0.5883/litre ($1.05/gal) last week. That compares with R0.6846/litre in the week ended 24 April.

The drop in anhydrous ethanol was not as sharp, with prices assessed at R0.6901/litre, down by 8.5% from R0.7543/litre a week earlier, Cepea said.

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

According to Cepea, hydrous prices, in nominal value, were down by 23% last week from one year earlier, while anhydrous showed a 14% decline.

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

($1 = R2.13)

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By: William Lemos
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