14 February 2012 19:07 [Source: ICIS news]
HOUSTON (ICIS)--Brazil ethanol prices fell early in the week, but moved higher at the end of last week amid renewed buying interest from distributors ahead of the Carnival holidays, research group CEPEA said on Tuesday.
CEPEA assessed hydrous ethanol at Brazilian reais (R) 1.0829/litre ($2.38/gal, €0.48/litre), up by 0.5% from 1.0776/litre in the week that ended on 10 February.
Anhydrous ethanol prices were assessed at R1.1563/litre, up by 0.03% from R1.1560/litre a week earlier.
Hydrous ethanol is used in Brazil as a standalone fuel in flexible-fuel vehicles (FFVs), competing directly with gasoline, while anhydrous ethanol is blended in gasoline at a mandated 20%.
CEPEA attributed supply pressure in Brazil to inventory reduction by some sugarcane mills in the key centre-south region.
The centre-south accounts for 90% of Brazil's ethanol production.
($1 = €0.76)
($1 = R1.72)
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