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Despite the high demand, prices in Brazil

 
Cepea, June 4 2019 – In the four full weeks of May, the CEPEA/ESALQ Index for hydrous ethanol averaged 1.64492 BRL per liter, 10.9% lower than that in the full weeks of April. Concerning anhydrous ethanol, the CEPEA/ESALQ Index dropped 3.15%, averaging 1.92372 BRL per liter – both in the spot market.

 

The first two months of the 2019/20 season showed that the behavior of ethanol prices has not been defined yet. Demand continues firm at pumps, due to the advantage of hydrous ethanol against gasoline, and sugarcane crushing continues lower than that in the same period of the previous season. Still, quotes (in real terms) are similar to that observed in the same period of 2018.

 

The amount of hydrous ethanol traded in May in São Paulo was similar to that from the previous month, having decreased a slight 0.45%, according to data from Cepea. Compared to the same period of 2018, however, the volume marketed last month increased 34%.

 

In the first fortnight of May, the trading pace was fast in the hydrous ethanol market. According to data from Unica (Brazilian Sugarcane Industry Association), the volume of ethanol traded by the refineries from central-southern Brazil in the first two weeks of the month totaled 1.32 billion liters, 16% up compared to that in the same period of 2018 (1.14 billion liters). In the Brazilian market, 934.72 million liters of ethanol were marketed, the largest amount ever traded in a first fortnight of May and 21.5% larger than that from the same period last year (769.14 million liters).

 

For anhydrous ethanol, internal trades totaled 382.36 million liters in the first two weeks of May, 16.35% up compared to that in the same period last year (328.63 million liters). This result reflected anhydrous ethanol sales to northern and northeastern Brazil.

 

As for the ESALQ/BM&FBovespa Index for hydrous ethanol delivered in Paulínia (SP), on May 31, it closed at 1,744.00 BRL per cubic meter (without taxes), 1.5% down compared to that on April 30.

 

(Cepea-Brazil)

 

 

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