11 January 2011 14:54 [Source: ICIS news]
HOUSTON (ICIS)--Brazilian ethanol prices posted new gains in the first week of the new year, research group CEPEA said on Tuesday, citing re-stocking demand at the start of summer vacations in the country.
CEPEA assessed hydrous ethanol at Brazilian reais (R) 1.1151/litre ($2.50/gal) (€0.51/litre), up by 0.6% from R1.1082/litre in the week ended 31 December.
Anhydrous ethanol was assessed at R1.2444/litre, rising by 1.5% from R1.2259/litre in the previous week.
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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