10 August 2010 17:57 [Source: ICIS news]
HOUSTON (ICIS)--Brazilian ethanol spot prices rose in the week ended 6 August, climbing to their highest level in the 2010 sugarcane harvest on the back of strong demand, research group CEPEA said on Tuesday.
CEPEA assessed hydrous ethanol at Brazilian reais (R) 0.8411/litre (€0.36/litre, $1.81/gal), up by 2.8% from R0.8181/litre in the week ended 30 July.
Anhydrous ethanol was assessed at R0.9588/litre, up by 1.2% from R0.9470/litre a week earlier.
Ethanol spot prices were the highest assessed by CEPEA since the start of the centre-south sugarcane harvest in April.
The centre-south accounts for 90% of Brazil's ethanol production.
Brazil uses hydrous ethanol as a stand-alone fuel in flexible-fuel vehicles (FFVs), while anhydrous ethanol is blended in gasoline at a mandated 25%.
CEPEA’s price assessments are ex-tank and do not include taxes.
($1 = R1.76)
(€1 = R2.32)
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