01 November 2011 16:25 [Source: ICIS news]
HOUSTON (ICIS)--Brazil hydrous ethanol prices remained on an uptrend in the last week of October because of tight supply, since the sugarcane harvest in the key centre-south region is nearly finished, research group CEPEA said on Tuesday.
The centre-south accounts for 90% of Brazil's ethanol production. The sugarcane harvest in the area runs from April to November/December.
CEPEA assessed hydrous ethanol at Brazilian reais (R) 1.2574/litre ($2.80/gal, €0.53/litre) in the week ended 28 October, up by 2% from R1.2322/litre a week earlier.
Anhydrous ethanol prices were assessed at R1.3790/litre, down from R1.3822/litre in the previous week on thin market activity, the research group said.
Brazil uses hydrous ethanol as a stand-alone fuel in flexible-fuel vehicles (FFVs), competing directly with gasoline, while anhydrous ethanol is blended in gasoline at a mandated 20%.
CEPEA prices are ex-tank and do not include taxes.
($1 = R1.70)
($1 = €0.72)
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