Brazil ethanol spot prices rise for 4 weeks in a row

27 November 2012 16:34  [Source: ICIS news]

HOUSTON (ICIS)--Brazil ethanol spot prices rose for the fourth week in a row last week, research group CEPEA said on Tuesday, citing tightening supply amid the end of the sugarcane harvest in the centre-south region.

The harvest in the centre-south, which accounts for 90% of Brazil's ethanol production, runs from April to November/December.

CEPEA assessed anhydrous ethanol prices at Brazilian reais (R) 1.2861/litre ($2.34/gal, €0.48/litre) in the week that ended on 23 November, up by 2.4% from R1.2555/litre a week earlier.

Hydrous ethanol was assessed at R1.1166/litre, up by 0.4% from a week earlier.

Brazil uses hydrous ethanol as a standalone fuel in flexible-fuel vehicles, competing against gasoline, while anhydrous ethanol is blended in gasoline at a mandated 20%.

CEPEA prices are ex-tank and do not include taxes.

($1 = R2.08, €0.77)

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By: William Lemos
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