Brazil ethanol prices continue rising in February - group

08 February 2011 18:20  [Source: ICIS news]

HOUSTON (ICIS)--Brazilian ethanol prices rose slightly in the first week of February, research group CEPEA said on Tuesday, indicating that tight supply continued to lend support to the biofuel.

CEPEA assessed hydrous ethanol at Brazilian reais (R) 1.1127/litre ($2.51/gal, €0.49/litre), up by 0.1% from R1.1118/litre in the week ended 28 January.

Anhydrous ethanol was assessed at R1.2414/litre, up by 0.6% from R1.2342/litre in the previous week.

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

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

Market sources expect ethanol supply in Brazil to remain tight until the next centre-south sugarcane harvest, which begins in April.

The centre-south accounts for 90% of Brazil’s ethanol output. The sugarcane harvest in the area runs from April to November/December.

($1 = R1.68)
($1 = €0.74)

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By: William Lemos
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