15 October 2013 20:39 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--Brazil anhydrous ethanol prices increased slightly while hydrous values were steady the previous week in the Sao Paulo spot market, research group CEPEA said on Tuesday.
CEPEA assessed average hydrous ethanol prices for the week ended on 11 October higher at Brazilian reais R1.1735/litre ($2.04/gal, €0.40/litre), up by 0.05% week on week, CEPEA said.
According to CEPEA researchers, the slow rate of hydrous spot business during the week helped maintain prices at levels seen over the past two weeks.
Anhydrous ethanol was assessed higher at R1.3058/litre up by 1.3%, CEPEA said.
Limited spot product available pushed anhydrous prices up, recovering from a decline the previous week, CEPEA said. Most anhydrous is currently fulfilling contracts, researchers said.
The sugarcane harvest in the centre-south, which accounts for 90% of Brazil's ethanol production, runs from April to November/December.
Brazil also produces ethanol in the northeast region of the country. The sugarcane harvest in that area runs from September to March.
The price does not include taxes or freight, according to the research group.
($1 = €0.74, $1 = R2.18)
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