For the third week in a row, Brazilian ethanol prices moved down. The CEPEA/ESALQ Index (Sao Paulo state) for anhydrous averaged 0.97987 real or 0.48494 dollar per liter (excluding taxes) from May 7th to May 11th, dropping 8.04 percent over the previous week. For hydrated, the decrease was even higher: of 13.8 percent, at 0.74951 real or 0.37093 dollar per liter (excluding taxes). In the accumulated of the last three weeks, the hydrated downed 22.15 percent and anhydrous, 10.2 percent. The pressure keeps related to the higher supply, especially of hydrated, as the 2007/08 crop harvest moves on.
In this context, crystal sugar price return to remunerate more than the hydrated ethanol in 10 percent, according to Cepea, in Sao Paulo state, which produces 63 percent of Brazilian sugarcane. The anhydrous, in turn, kept remunerating 12 percent more than the sugar. Comparing the two types of ethanol, the anhydrous remunerated 24 percent more than hydrated between May 7th and 11th, in Sao Paulo state.