19 February 2013 17:14 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--Brazil hydrous ethanol prices in the spot market this season in Sao Paulo State are exactly on the average of the last 13 crops, research group CEPEA said on Tuesday.
The last 13 crops are from April 2012 to January 2013, according to CEPEA.
The average of monthly indexes of Brazil anhydrous ethanol from April 2012 to January 2013 is slightly below the historical average at Brazilian reais (R) 1.2704/litre ($2.44/gal, €0.48/litre) and R1.3046/liter, respectively.
CEPEA assessed hydrous ethanol prices in the week that ended on 15 February at R1.2338/litre, up 2.9% from the previous week. Anhydrous ethanol was assessed up 1.3% from the previous week.
These price rises are attributed to distributors’ inventory building, mainly of hydrous ethanol, after Carnival, CEPEA said.
Brazil blends anhydrous ethanol in gasoline at a mandated 20%, while hydrous ethanol is used as a standalone fuel in flexible-fuel vehicles (FFVs).
Brazil will increase its anhydrous ethanol blending rate in gasoline to 25% on 1 May, the government announced recently.
CEPEA prices are ex-tank and do not include taxes.
($1 = €0.75; $1 = R1.97)
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