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Southeast Brazil ethanol price close to regaining competitiveness with gasoline FIPHARM(GROUP)CO.,LIMITED | 2017-04-19 14:44:36 | Reading:2259 The pump price of hydrous ethanol in the southeast of Brazil averaged 70.6% of gasoline for the April 9-14 period, compared with 70.8% the week before, data from the National Petroleum Agency showed. 

The ratio is the lowest since October 8-15. 

At this level, hydrous ethanol is getting closer to regaining competitiveness at the pump against gasoline. Hydrous fuel ethanol is used in Brazil as a standalone biofuel (E100) by flex-fuel vehicles and to be more competitive it has to be below 70% of the price of gasoline. 

Hydrous prices have decreased in recent weeks due to the start of the 2017-18 sugar cane crushing season in Center-South Brazil. 

However, a recent combination of factors has led to an unexpected rise in prices. Rainfall over sugarcane-crushing regions and increased demand due to a series of national holidays pushed prices higher. 

S&P Global Platts assessed hydrous ex-mill Ribeirao Preto at Real 1,850/cu m on Monday, up 3% week on week. Compared with a month ago, it is down 2%. 

The recent strength in spot prices is not expected to last, as disruptions to the pace of the crop are due to end with the return of dry weather. 

Nonetheless, the price decrease is expected to be more gradual this season as the improving parity at the pump and a tighter crop compared with last season should provide some support to ex-mill prices. 

Last season at the start of the new crop, prices likewise fell abruptly, reflecting the fact that there was still a lot of cane bisada from the previous season and also a decline in consumption due to uncompetitive prices compared with gasoline. 

Prices in 2016 went from Real 2,230/cu m on March 1 to Real 1,760/cu m on April 1.



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