12 July 2011 18:46 [Source: ICIS news]
HOUSTON (ICIS)--Brazil's ethanol spot prices fell on average by 1% in the first week of July, pressured by increased spot supply, research group CEPEA said on Tuesday.
CEPEA assessed anhydrous ethanol at Brazilian reais (R) 1.2963/litre ($3.11/gal) last week, down by 0.6% from R1.3037/litre in the week ended 1 July.
Hydrous ethanol was assessed at R1.1346/litre, down by 1.1% from R1.1470/litre in the previous week, the research group said.
CEPEA said prices fell last week as producers offered more spot ethanol in a bid to raise cash to meet operational expenses at the turn of the month.
Brazil uses hydrous ethanol as a standalone fuel in flexible-fuel vehicles (FFVs), while anhydrous ethanol is blended in gasoline at a mandated 18-25%.
CEPEA prices are ex-tank and do not include taxes.
($1 = R1.58)
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