Brazil ethanol spot prices near 4-year high - CEPEA

12 January 2010 16:11  [Source: ICIS news]

HOUSTON (ICIS news)--Brazil’s ethanol prices continued to rise in the week ended on 8 January, trading at their highest level since April 2006, research group CEPEA said on Tuesday.

CEPEA assessed hydrous ethanol at Brazilian reais (R) 1.1673/litre ($2.54/gal) last week, up by 5.9% from R1.1019/litre in the week ended 1 January.

Anhydrous ethanol was assessed at R1.2591/litre, a 4.1% jump from R1.2097/litre a week earlier.

The uptrend in the Brazilian ethanol market stems from tight supply due to weather-related disruptions in the last six months.

The Brazilian government on Monday announced it would temporarily lower the country’s mandated ethanol blend in gasoline to 20% from 25% in an attempt to ease pressure on the market.

The reduction is to become effective on 1 February.

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

($1 = R1.74)

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By: William Lemos
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