02 November 2010 14:10 [Source: ICIS news]
HOUSTON (ICIS)--Brazil’s ethanol prices remained on an uptrend in October after surging to a nine-week high at the beginning of the month, according to figures available on the website of research group CEPEA on Tuesday.
CEPEA assessed anhydrous ethanol at Brazilian reais (R) 1.1823/litre ($2.62/gal) in the week ended 29 October, largely steady with R1.1871/litre a week earlier but up by 3% from R1.1479/litre in the week ended 1 October.
Hydrous ethanol was assessed at R0.9804/litre, up by 0.4% from R0.9762/litre in the previous week and higher by 0.7% from R0.9733/litre four weeks earlier, the research group said.
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%.
The uptrend in Brazilian ethanol prices stems from a slowdown in sugarcane production in recent months and increased sugar production since the beginning of the harvest in April.
CEPEA prices are ex-tank and do not include taxes.
($1 = R1.71)
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