10 July 2012 15:56 [Source: ICIS news]
HOUSTON (ICIS)--Brazil's ethanol spot prices softened in the first week of July on looser supply and weaker demand, research group CEPEA said on Tuesday.
CEPEA assessed hydrous ethanol at Brazilian reais (R) 1.0623/litre ($1.98/gal, €0.42/litre) in the week that ended on 6 July, down by 1.4% from R1.0775/litre a week earlier.
Anhydrous ethanol prices were assessed at R1.3143/litre last week, also down by 1.4% from R1.3334/litre in the week that ended on 29 June, according to figures from CEPEA.
Brazil blends anhydrous ethanol in gasoline at a mandated 20%, while hydrous ethanol is used as a standalone fuel in flexible-fuel vehicles (FFVs), competing directly with gasoline.
CEPEA prices are ex-tank and do not include taxes.
($1 = R2.03)
($1 = €0.81)
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