13 March 2012 14:45 [Source: ICIS news]
HOUSTON (ICIS)--Brazil ethanol spot prices were up again last week, rising by 10% since early February on limited supply and firm demand, particularly for anhydrous ethanol, research group CEPEA said on Tuesday.
CEPEA assessed anhydrous ethanol at Brazilian reais (R) 1.2790/litre ($2.67/gal, €0.54/litre), up by 2.6% from R1.2470/litre in the week that ended on 2 March.
Hydrous ethanol was assessed at R1.2008/litre, up by 1.7% from R1.1813/litre a week earlier.
Brazil uses hydrous ethanol as a standalone fuel in flexible-fuel vehicles (FFVs), competing directly with gasoline, while anhydrous ethanol is blended in gasoline at a mandated 20%.
The price increase in anhydrous ethanol this week resulted from increased demand for gasoline, CEPEA said.
CEPEA prices are ex-tank and do not include taxes.
($1 = R1.81)
($1 = €0.76)
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