10 January 2012 16:17 [Source: ICIS news]
HOUSTON (ICIS)--Brazil hydrous ethanol prices rose after the new year on reduced spot availability, research group CEPEA said on Tuesday.
CEPEA assessed hydrous ethanol last week at Brazilian reais (R) 1.2000/litre ($2.47/gal, €0.51/litre), up by 0.4% from R1.1952/litre in the week that ended on 29 December.
Anhydrous ethanol prices moved in the opposite direction, dropping to R1.3350/litre from R1.3484/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.
($1 = €0.78)
($1 = R1.84)
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