29 November 2011 16:27 [Source: ICIS news]
HOUSTON (ICIS)--Brazil ethanol prices remained steady in the fourth week of November on thin trade, research group CEPEA said on Tuesday.
CEPEA assessed hydrous ethanol at Brazilian reais (R) 1.2878/litre ($2.62/gal, €0.52/litre) in the week ended 25 November, slightly up from R1.2824/litre a week earlier.
Anhydrous ethanol prices were assessed at R1.3784/litre, a small drop of 0.3% from R1.3819/litre in the previous week, the research group said.
CEPEA said fuel distributors were mostly on the sidelines last week after having replenished inventories following a holiday on 15 November.
Brazil uses hydrous ethanol as a stand-alone fuel in flexible-fuel vehicles (FFVs), while anhydrous ethanol is blended in gasoline at a mandated 20%.
CEPEA prices are ex-tank and do not include taxes.
($1 = R1.86)
($1 = €0.75)
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