Brazil anhydrous ethanol prices continue nine-week surge - CEPEA

05 October 2010 17:18  [Source: ICIS news]

HOUSTON (ICIS)--Brazil’s anhydrous ethanol spot prices have continued to soar, rising for the ninth week in a row on the back of tight supply, research group CEPEA said on Tuesday.

CEPEA assessed anhydrous ethanol at Brazilian reais (R) 1.1479/litre ($2.57/gal), up by 5.9%  for the week ended 1 October from R1.0844/litre in the week ended 24 September.

Hydrous ethanol was assessed at R0.9733/litre, up by 6.7% from R0.9120/litre in the previous week, the group said.

Brazil uses hydrous ethanol in flexible-fuel vehicles (FFVs), while anhydrous ethanol is blended in gasoline at a mandated 25%.

Anhydrous ethanol supply has tightened in 2010 because sugar cane mills in Brazil are producing more sugar than ethanol due to higher returns in the sugar market.

CEPEA prices are ex-tank and do not include taxes.

($1 = R1.69)

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By: William Lemos
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