20 September 2011 18:13 [Source: ICIS news]
HOUSTON (ICIS)--Brazil ethanol prices were down in the second week of September, but spot market activity remained thin, research group CEPEA said on Tuesday.
CEPEA assessed anhydrous ethanol at Brazilian reais (R) 1.3837/litre ($2.94/gal) last week, down by 1.1% from R1.3997/litre in the week ended 9 September.
Hydrous ethanol was assessed at R1.2121/litre, down by 0.7% from R1.2205/litre a week earlier, the research group said.
CEPEA prices are ex-tank and do not include taxes.
Brazil uses hydrous ethanol as a stand-alone fuel in flexible-fuel vehicles (FFV), competing directly with gasoline, while anhydrous ethanol is blended in gasoline at a mandated 20-25%.
($1 = R1.78)
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