Brazil ethanol prices keep uptrend on tight supply - CEPEA

28 December 2010 16:24  [Source: ICIS news]

HOUSTON (ICIS)--Brazilian ethanol prices rose during the Christmas holiday week as tight supply continued to lend support to the market, research group CEPEA said on Tuesday.

CEPEA assessed hydrous ethanol at Brazilian reais (R) 1.0908/litre ($2.44/gal), up by 1% from R1.0798/litre in the week ended 17 December.

Anhydrous ethanol was assessed at R1.2179/litre, also rising by 1% from R1.2060/litre in the previous week.

Market activity was thin and ethanol demand was weak, the group said, adding, however, that spot availability remained limited and that was fuelling prices.

Brazil blends anhydrous in gasoline at a mandated 25%, while hydrous ethanol is used as a stand-alone in flexible-fuel vehicles (FFVs), competing directly against gasoline.

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

($1 = R1.69)

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By: William Lemos
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