Hydrated drops with a slightly higher supply

Between Dec 10th and 14th, Brazilian ethanol market moved at a slow pace, with stable prices - only the hydrated values decreased. Some mills, in need of cash, traded at lower values. The CEPEA/ESALQ Index for anhydrous averaged 0.85616 real or 0.48223 dollar per liter (excluding taxes), stable over the previous week. For the hydrated, there was a small devaluation of 0.4 percent in Real, at 0.75356 real or 0.42445 dollar per liter (excluding taxes). It was the first slight decrease of the hydrated in eight weeks. The anhydrous, in turn, accumulates nine weeks of positives variations - the recent ones were less expressive. In the last two weeks, for instance, the anhydrous increased 0.98 percent; the hydrated registered stability in the same period.

The last Sao Paulo Sugar Cane Agroindustry Union (Unica) report about the 2007/08 crop (from April to December) did not surprise the sector - it was similar to those of November, but very different over the initial forecast.

The sugarcane production in the Center-Southern region totaled 425 million tons, increasing 14 percent over the previous crop. The ethanol production totaled 19.78 billion liters. Exports amounted to 2.8 billion liters, a strong reduction of 17.65 percent over the previous season.

The percentage allotted to the ethanol was of 55.28 percent and to the sugar, of 44.72 percent. In the first estimation, the mix of production was forecasted at 47.43 percent for the sugar and at 52.57 percent for the ethanol, showing that the sugarcane surplus was destined to the fuel production. The reasons for this change were the crescent fuel demand and, for the sugar, the lower values in the domestic and international markets.

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