Haxo Bioenergy

Renewable, Sustainable, Low Carbon Biofuels and Clean Energy Company

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Ethanol - Latin America (week report)

LATIN AMERICA – Although rain has eased in the last few days after a very wet start to December, domestic ethanol prices in Brazil have firmed further. Hydrous has traded at R$1,300/cu m ex-mill Ribeirao Preto and current offers are set at $1,320/cu m, up R$100/cu m on last week. In Paulinia, just over 200 km away, prices traded at R$1,350/cu m ex-mill. Anhydrous values are pegged at similar values. The steep increase in prices has prompted some distributors to postpone the purchase of January’s monthly requirements until after this week’s holiday in the hope that prices may ease. The gains in domestic market values have flowed through to export markets. Bids for hydrous rose $10/cu m to $600/cu m FOB Santos but offers were up $45/cu m to $675/cu m. Bids for Anhydrous ANP gained $10/cu m and are now quoted at $610/cu m while offers rose $30/cu m to $740/cu m. It was a similar story for EU Grade Anhydrous with prices now pegged in a $650-750/cu m range after a $10/cum rise in bids and a $30/cu m gain in offers. New crop offers for EU grade are seen at $550/cu m FOB Santos