Brazil ethanol prices remain on uptrend in November - CEPEA

16 November 2010 20:34  [Source: ICIS news]

HOUSTON (ICIS)--Brazil’s ethanol prices remained on an uptrend in the second week of November, according to figures released by domestic research group CEPEA on Tuesday.

CEPEA assessed anhydrous ethanol at Brazilian reais (R) 1.1871/litre ($2.61/gal) in the week ended 12 November, up by 0.4% from R1.1828/litre a week earlier.

Hydrous ethanol was assessed at R0.9936/litre, up by 1.1% from R0.9830/litre in the previous week.

The uptrend in the Brazilian ethanol market stemmed from firm demand and continued tight supply, according to sources.

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 prices are ex-tank and do not include taxes.

($1 = R1.72)

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By: William Lemos
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