11 October 2011 21:53 [Source: ICIS news]
HOUSTON (ICIS)--Brazil hydrous ethanol prices rose in the first week of October on firmer demand ahead of a national holiday on 12 October, research group CEPEA said on Tuesday.
CEPEA assessed hydrous ethanol last week at Brazilian reais (R) 1.2168/litre ($2.63/gal, €0.51/litre), up by 2.7% from R1.1848/litre in the week ended 30 September.
Brazil uses hydrous ethanol as a stand-alone fuel in flexible-fuel vehicles, competing directly with gasoline, while anhydrous ethanol is blended in gasoline at a mandated 20%.
Anhydrous ethanol prices were assessed at R1.3710/litre in the week ended 7 October, steady with R1.3704/litre a week earlier, the research group said.
CEPEA prices are ex-tank and do not include taxes.
($1 = R1.75)
($1 = €0.73)
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