06 March 2012 19:07 [Source: ICIS news]
HOUSTON (ICIS)--Brazil ethanol prices rose on average by 1.7% last week on firmer demand, research group CEPEA said on Tuesday.
CEPEA assessed hydrous ethanol at Brazilian reais (R) 1.1813/litre ($2.57/gal, €0.52/litre), up by 1.3% from R1.1661/litre in the week that ended on 24 February.
Anhydrous ethanol prices were assessed at R1.2470/litre, up by 2.0% from R1.2231/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 prices are ex-tank and do not include taxes.
($1 = €0.76)
($1 = R1.74)
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