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Cepea, July 2, 2024 – The 2024/25 sugarcane season has been progressing in Central-Southern Brazil. Weather conditions have been favoring both the harvesting and processing activities. The demand in the retail market, in turn, especially in São Paulo state, continues firm, sustained by the more advantageous scenario for the biofuel against gasoline.
At pumps, the average parity between prices for hydrous ethanol and gasoline continues at around 64%, which is very attractive for consumers – it leads them to prefer the biofuel. Therefore, even if ethanol prices continue to increase, the price relation is likely to remain below 70%.
The volume of hydrous ethanol traded at mills was smaller between June 24 and 28; however, biofuel quotations increased, since sellers were unwilling to trade.
Between June 24 and 28, the CEPEA/ESALQ Index for hydrous ethanol closed at BRL 2.4665/liter (net of ICMS and PIS/Cofins), upping 2.29% compared to that in the previous week. Concerning anhydrous ethanol, the CEPEA/ESALQ Index closed at BRL 2.7348/liter, net of taxes (PIS/Cofins), for an increase of 0.53% in the same period.
Considering the full weeks of June, the average of the CEPEA/ESALQ Index for hydrous ethanol closed at BRL 2.3805/liter, 2.84% up compared to May. As for anhydrous ethanol (sales in the spot market only), the average closed at BRL 2.6766/liter, moving up 1.04%.
From April to June 2024, the average of the EPEA/ESALQ Index for hydrous ethanol is still 13.9% lower than in the same period of 2023, in real terms (IGP-M June). As for anhydrous ethanol (spot + contracts), the decrease is 15.5%, in real terms, in the same comparison.
(Cepea-Brazil)
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Fonte: Cepea