Demand supports domestic values in this crop

From April this year (harvest beginning) until last week (between July 7th and 11th), the CEPEA/ESALQ Index for the anhydrous ethanol (Sao Paulo state) increased 7.56 percent - in the same period last year, this type registered a decrease of 38 percent. For the hydrated, the Index accumulates a small decrease of 2.86 percent in this crop, against 39.6 percent in the previous season. The support comes from the higher domestic demand and from Brazilian exports, stimulated mainly by the flooding in North-American corn fields during June.

According to the Secex (Foreign Trade Secretariat), Brazilian ethanol exports totaled 1.1 billion liters between April and June, volume 42 percent higher compared to the same period of the 2007/08 crop.

From Jul 7th to 11th, Brazilian ethanol prices moved up again. The CEPEA/ESALQ Index (Sao Paulo state) for the anhydrous averaged 0.8824 real or 0.5492 dollar per liter (excluding taxes), increasing 8.31 percent over the previous week (Jun 30th to Jul 4th). For the hydrated, the raise was of 1.36 percent in the same period, at 0.7235 real or 0.4503 dollar per liter (excluding taxes). One year ago, the Index for anhydrous averaged 0.66352 real or 0.34976 dollar per liter (excluding taxes), and for the hydrated, 0.58022 real or 0.3058 dollar per liter (excluding taxes). (Cepea - Brazil)

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