02 May 2012 17:25 [Source: ICIS news]
HOUSTON (ICIS)--Brazil anhydrous ethanol spot prices rose in the last week of April on slightly firmer demand, research group CEPEA said on Wednesday.
CEPEA assessed anhydrous ethanol at Brazilian reais (R) 1.2382/litre ($2.45/gal, €0.49/litre), up by 2% from R1.2137/litre in the week that ended on 23 April.
Hydrous ethanol prices moved in the opposite direction, falling by 1.7% to R1.1416/litre on pressure from growing supply, the research group said.
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%.
CEPEA prices are ex-tank and do not include taxes.
($1 = R1.91)
($1 = €0.76)
Follow William on Twitter
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections