08 May 2012 19:41 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--Brazilian ethanol spot prices recorded slight increases in the first week of May because of reduced offers caused by heavy rainfall, research group CEPEA said on Tuesday.
CEPEA assessed anhydrous ethanol at Brazilian reais (R) 1.2844/litre ($2.53/gal, €0.51/litre), up by 3.7% from R1.2382/litre in the week that ended on 4 May.
Hydrous ethanol prices also increased, rising by 1.7% to R1.1647/litre on pressure from snug 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 = R1.92)
($1 = €0.77)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections