Brazil ethanol prices rise as holiday spurs demand - CEPEA

13 July 2010 15:48  [Source: ICIS news]

HOUSTON (ICIS news)--Brazilian ethanol prices rose in the week ended 9 July, research group CEPEA said on Tuesday, citing increased demand due to a holiday in Sao Paulo late in the week.

The holiday on 9 July boosted ethanol demand in the state because of increased travel as a result of the three-day weekend, CEPEA said.

CEPEA assessed hydrous ethanol at Brazilian reais (R) 0.7724/litre ($1.65/gal), an increase of 4.6% from R0.7383/litre in the week ended 2 July.

Anhydrous ethanol was assessed at R0.8973/litre, up by 3.6% from R0.8664/litre a week earlier.

Brazil uses hydrous ethanol as a stand-alone fuel in flexible-fuel vehicles, while anhydrous ethanol is blended in gasoline at a mandated 25%.

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

($1 = R1.77)

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By: William Lemos
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