High demand pushes up quotes in SP

Cepea, July 18 2019 – After dropping for three consecutive weeks, anhydrous and hydrous ethanol prices ended the first fortnight of July on the rise in São Paulo State. The boost was linked to the demand from distributors, which was high in that period – ethanol continued more advantageous than gasoline C in the main Brazilian consuming centers. In addition, rains underpinned quotes, since several mills interrupted crushing activities for some days in São Paulo, Paraná and Mato Grosso do Sul States.

 

Between July 8 and 12, the CEPEA/ESALQ Index for hydrous ethanol closed at 1.6507 BRL per liter (São Paulo, with zero ICMS and zero PIS/Cofins), 2.9% up compared to that in the week between June 24 and 28. As for anhydrous ethanol, the CEPEA/ESALQ Index closed at 1.8487 BRL per liter (zero PIS/Cofins), for an increase of 1.1% in the same comparison.

 

In June, the price average for hydrous ethanol (considering the monthly CEPEA/ESALQ Index) was the third lowest for the month in the last six seasons, in real terms – values were deflated by the IGP-M from June/19. On the other hand, the highest averages were observed in June/18 (1.7403 BRL per liter) and in June/16 (1.6975 BRL per liter).

 

As for sugarcane growers, agents from some refineries were out of the market. Along the period, hydrous ethanol prices also rose in other producing states, such as Goiás, Mato Grosso and Mato Grosso do Sul.

 

Hydrous ethanol sales by the refineries from central-southern Brazil totaled 1.38 billion liters in the second fortnight of June, of which 1.24 billion liters were sold in the Brazilian market, according to data from Unica (Brazilian Sugarcane Industry Association). In June, 2.5 billion liters of ethanol were allocated to the domestic market.

 

The ESALQ/BM&FBovespa Index for hydrous ethanol delivered in Paulínia (SP) closed at 1,713.50 BRL per cubic meter (without taxes) on July 15, 1.9% up compared that on June 28.

 

(Cepea-Brazil)

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