04 September 2012 19:13 [Source: ICIS news]
HOUSTON (ICIS)--Brazil's ethanol prices rose in the last week of August as sugarcane mills in the centre-south region of the country entered the final stretch of the 2012 sugarcane harvest, research group CEPEA said on Tuesday.
CEPEA assessed anhydrous ethanol prices at Brazilian reais (R) 1.2370/litre ($2.31/gal, €0.48/litre) in the week that ended on 31 August, up by 1.2% from R1.2223/litre a week earlier.
Hydrous ethanol was assessed at R1.0795/litre, rising by 4% from R1.0381/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%.
Ethanol prices are expected to rise at this time of the year, CEPEA said, attributing the increase to the final months of the sugarcane harvest in Brazil's key centre-south region.
The centre-south harvest runs from April to November/December. The area accounts for 90% of Brazil's ethanol production.
CEPEA prices are ex-tank and do not include taxes.
($1 = R2.03)
($1 = €0.79)
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