20 March 2013 14:58 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--Brazil hydrous and anhydrous ethanol prices in the spot market declined last week in Sao Paulo State, research group CEPEA said on Wednesday.
Hydrous ethanol during the week ended 15 March was recorded at Brazilian reais (R) 1.2339/litre ($2.35/gal, €0.48/litre), a 1.8% drop, according to CEPEA.
CEPEA assessed anhydrous ethanol prices in the week at R1.3314/litre, down by almost 1% from the previous week.
These price drop wa2.35*s attributed to increased supply as the harvest season begins, CEPEA said. The key centre-south sugarcane harvest runs from April to November/December.
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 = €0.78; $1 = R1.99)
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