26 June 2012 23:06 [Source: ICIS news]
MEDELLIN, Colombia (ICIS) -- Brazil hydrous and anhydrous ethanol prices are steady as the market is quiet, buyers and sellers said on Tuesday.
Offers, especially for anhydrous material are scarce, buyers and sellers said, as low volumes have been seen in the market because of delays in production and persistent rainy weather.
Widespread rains during the first few months of Brazil's centre-south sugarcane crush have slowed processing and hampered ethanol production, according to trade group Unica.
Milling in the first two weeks of June was down 27.59% compared to the second two weeks of May and down 25.96% compared to the same period in 2011, Unica said.
Recent forecasts calling for sunny weather will allow the harvesting and crushing season to get back on track and spur a decline in prices as supply normalises, sources said.
The centre-south accounts for 90% of Brazil's ethanol production. The harvest in the area runs from April to November/December.
($1 = R2.07)
($1 = €0.80)
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