Brazil ethanol mills cut prices to raise cash
24 November 2009 15:39 [Source: ICIS news]
HOUSTON (ICIS news)--Brazil’s ethanol spot prices were down in the week ended on 20 November as mills cut spot prices to meet short-term cash needs, research group CEPEA said on Tuesday.
CEPEA assessed hydrous ethanol at Brazilian reais (R) 0.9338/litre ($2.04/gal) last week, down by 1.94% from R0.9523/litre in the week ended 13 November.
Anhydrous ethanol was assessed at R1.0819/litre, a 2.7% drop from R1.1109/litre a week earlier.
CEPEA’s price assessments are ex-tank and do not include taxes.
($1 = R1.73)
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