19 April 2011 15:36 [Source: ICIS news]
Brazil blends anhydrous ethanol in gasoline at a mandated 25%.
The product was assessed at Brazilian reais (R) R2.4727/litre ($5.89/gal) in the week ended 15 April, rising by 16% from R2.1331/litre a week earlier.
CEPEA assessed hydrous ethanol, which is used as a stand-alone fuel in flexible-fuel vehicles, at R1.3843/litre, only slightly off from R1.3854/litre a week earlier.
Hydrous ethanol prices began to soften in early April when supply from the new centre-south sugarcane harvest started to enter the market.
The centre-south accounts for around 90% of Brazil’s ethanol production. The harvest in the area runs from April to November/December.
Anhydrous ethanol supply from the new harvest is not expected to enter the market in significant volumes until mid-May, market sources said, indicating that anydrous prices will remain on an uptrend for at least another month.
CEPEA prices are ex-tank and do not include taxes.
($1 = R1.59)
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