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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