07 May 2013 19:07 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--Brazil hydrous and anhydrous ethanol prices in the spot market in Sao Paulo declined as the harvest and crush season ramps up, research group CEPEA said on Tuesday.
CEPEA said hydrous ethanol prices dropped by 13.5% in the last two weeks because supply has increased amid progress in the crush season.
CEPEA assessed hydrous prices at Brazilian reais (R) 1.1255/litre ($2.12/gal, €0.43/litre).
Business in the anhydrous sector remained stable, despite the increase in the government-mandated blend rate on 1 May to 25%, CEPEA said.
Anhydrous ethanol was assessed at R1.3274/litre, a decline of 3.25% from the previous week.
Brazil blends anhydrous ethanol in gasoline at a mandated 25% as of 1 May, while hydrous ethanol is used as a standalone fuel in flexible-fuel vehicles (FFVs).
CEPEA prices are ex-tank and do not include taxes.
($1 = €0.76)
($1 = R2.01)
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