Brazil ethanol spot prices firm despite thin trade - CEPEA

08 January 2013 14:40  [Source: ICIS news]

HOUSTON (ICIS)--Brazil ethanol spot prices remained firm in the first week of 2013 despite thin trade, research group CEPEA said on Tuesday.

CEPEA assessed hydrous ethanol at Brazilian reais (R) 1.1475/litre ($2.14/gal, €0.43/litre) last week, up by 1.17% compared with R1.1342/litre in the week that ended on 28 December.

Anhydrous ethanol was assessed at R1.3334/litre, virtually unchanged from R1.3335/litre in the previous week, the research group said.

Brazil blends anhydrous ethanol in gasoline at a mandated 20%, while hydrous ethanol is used as a stand-alone fuel in flexible-fuel vehicles (FFVs).

CEPEA said a large number of sugarcane mills in the key centre-south region are running low on inventories as a result of the end of the sugarcane harvest in the area.

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

($1 = €0.76, R2.03)

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By: William Lemos
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