Ethanol News - Latin America (Week Report)
Latin America – Further rain in the lead-up to the Christmas holiday season has led to fresh gains in Brazil’s domestic market prices. Prices for both hydrous and anhydrous have risen to R$1,200/cu m ex-mill Ribeirao Preto (with taxes) – R$50/cu m higher than last week. Distributors are increasingly looking to secure volumes ahead of the upcoming holidays but further rain in CS Brazil’s cane growing areas has restricted availability and offers remain limited. Domestic price increases have kept values on export markets firm, despite some easing in the Brazilian Real. Bids for Hydrous ANP are unchanged at $590/cu m FOB Santos but offers have risen $15/cu m to $630/cu m. Notional prices for Anhydrous ANP are now assessed in a $600-710/cu m FOB Santos bid/offer range with offers rising $25/cu m. Prices for EU Grade Anhydrous are unchanged from last week, assessed in a $640-720/cu m FOB Santos bid/offer range.
