Indexes reflect the beginning of the new crop

Brazilian ethanol prices moved down during the first fortnight of April. More mills of Sao Paulo state have started the process of the 2008/09 crop. Besides that, some of them remained trading their stocks. Distributors, in turn, kept purchasing volumes needed only to the short time periods, betting on new decreases.

Between April 7th and 14th, the CEPEA/ESALQ Index (Sao Paulo state) for the anhydrous averaged 0.7791 real or 0.4604 dollar per liter (excluding taxes), dropping 3.53 percent in Real over the previous week. For the hydrated, the decrease was of 3.08 percent in Real, averaging 0.6992 real or 0.4131 dollar per liter (excluding taxes). (Cepea - Brazil)

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