21 December 2011 18:39 [Source: ICIS news]
HOUSTON (ICIS)--Brazil hydrous ethanol prices softened in the second week of December, pressured by weaker demand and looser supply, according to data available on Wednesday from research group CEPEA.
CEPEA assessed hydrous ethanol last week at Brazilian reais (R) 1.2635/litre ($2.60/gal, €0.52/litre), down by 0.7% from R1.2728/litre in the week that ended on 9 December.
Anhydrous ethanol prices moved in the opposite direction, climbing to R1.3604/litre, a 0.2% increase from R1.3572/litre a week earlier, the research group said.
Brazil blends anhydrous ethanol in gasoline at a mandated 20%, while hydrous ethanol is used as a standalone fuel in flexible-fuel vehicles (FFVs), competing directly with gasoline.
Anhydrous ethanol prices rose last week because of sustained demand, as gasoline remained more competitive than hydrous ethanol in the FFV market, CEPEA said.
CEPEA prices are ex-tank and do not include taxes.
($1 = R1.84)
($1 = €0.76)
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