28 August 2012 23:53 [Source: ICIS news]
HOUSTON (ICIS)--Brazil's ethanol prices were mostly steady last week, but the spot market was more active as a result of improved supply, research group CEPEA said on Tuesday.
CEPEA assessed anhydrous ethanol prices at Brazilian reais (R) 1.2223/litre ($2.28/gal, €0.48/litre) in the week that ended on 24 August, down by 0.4% from R1.2271/litre a week earlier.
Hydrous ethanol was assessed at R1.0381/litre, rising by 0.5% from R1.0331/litre a week earlier, the research group said.
Brazil uses hydrous ethanol as a standalone fuel in flexible-fuel vehicles (FFVs), while anhydrous ethanol is blended in gasoline at a mandated 20%.
CEPEA prices are ex-tank and do not include taxes.
($1 = R2.03)
($1 = €0.80)
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