22 May 2012 14:41 [Source: ICIS news]
HOUSTON (ICIS)--Brazil anhydrous ethanol spot prices posted new gains last week on limited supply because mills continued focusing on meeting contracts, research group CEPEA said on Tuesday.
CEPEA assessed anhydrous ethanol at Brazilian reais (R) 1.3202/litre ($2.44/gal, €0.50/litre), up by 0.7% from R1.3113/litre in the week that ended on 11 May.
Hydrous ethanol prices moved in the opposite direction, dropping by 1.1% to R1.1436/litre from R1.1559/litre a week earlier on looser 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 = R2.05)
($1 = €0.78)
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