With agents replenishing inventories, demand increases in Brazil in January

Cepea, February 2, 2021 – The demand for ethanol was high in São Paulo State (SP) in January, since agents were replenishing inventories. Thus, the volume marketed in that state last month was 22% higher than that in December 2020. Still, this amount is 21.7% lower than that sold in January 2020. In the partial of the current season (from April/2020 to January/2021), the volume of ethanol traded in SP is 28.3% down from that in the previous season, considering the same period.

 

In this scenario, the prices paid to ethanol plants increased in all the weeks of January. Besides consumption, international price rises for oil and the consequent increases in gasoline quotes by Brazilian refineries in January also influenced the valuation of ethanol.

 

Considering the full weeks of January, the CEPEA/ESALQ Index for hydrous ethanol averaged 2.0932 BRL per liter, 2.3% up from the average of the full weeks of December. For anhydrous ethanol, the CEPEA/ESALQ Index rose by 0.17% (considering only the spot market), averaging 2.4155 BRL/liter.

 

In the partial of the 2020/21 season (from April/2020 to January/2021), the CEPEA/ESALQ Index for anhydrous ethanol is still 14.4% lower than that from the same period of the previous season, in real terms (values were deflated by the IGP-M from January/21). As regards hydrous ethanol, the average Index is 14.8% lower, in the same comparison.

 

(Cepea-Brazil)

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