After two months of stability, ethanol prices took a dip last week. The ESALQ/CEPEA index for anhydrous ethanol dropped 1.32%, listing a weekly average of R$0.85204 per liter (~US$0.40), before taxes. This is the lowest nominal value recorded since September 2005. Hydrous ethanol was at R$0.74903 per liter (~US$0.35), a drop of 1.25%.
An increase in supply put pressure on prices, even as mills headed toward the end of the milling season. Distribution centers, on their turn, did not show any great interest in picking up the excess.
All data are from CEPEA - Centro de Estudos Avançados em Economia Aplicada (Center for Advanced Studies in Applied Economics).
Follow what's happening in the Brazilian ethanol market on Ethablog, the only blog in English dedicated to Brazilian ethanol.
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