Supply grows, but firm demand underpins hydrous ethanol quotes in BR

Cepea, September 17 2019 – Despite the cash flow needs (and/or the needs to make room in fuel storage tanks) of some refineries, hydrous ethanol quotes remained stable in São Paulo State in the first fortnight of September. Agents from other refineries were unwilling to lower asking prices, and the demand from purchasers was firm, underpinning prices in the Brazilian market.


Between September 9 and 13, the CEPEA/ESALQ Index for hydrous ethanol averaged 1.6941 BRL per liter (zero ICMS and PIS/Cofins), a slight 0.2% up compared to that between August 26 and 30.


Concerning anhydrous ethanol, the volume traded in the first half of September was large and supply remained slightly higher than demand. Besides, deals were closed at lower price levels. Thus, the CEPEA/ESALQ Index averaged 1.8445 BRL per liter (zero PIS/Cofins) between September 9 and 13, 3.3% down in the same comparison.


EXPORTS – Ethanol exports (anhydrous and hydrous) totaled 314.4 million liters in August, and the revenue from these shipments, 161.8 million USD (650.436 million BRL), according to Secex. That volume is 52.15% larger than that exported in July/19, and revenue, 56.03% higher, in the same comparison. This season (April/19 to July/19), Brazil has shipped 860.20 million liters of ethanol, 22.57% up compared to that in the same period last season (701.8 million liters).




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