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Cepea, February 5, 2024 – Hydrous ethanol prices rose again in the spot market of São Paulo state in late January, returning to levels verified in early December/23. The increase was verified despite high stocks and data indicating a good volume of sugarcane crushing in the accumulated of the 2023/24 season.
The advantage of hydrous ethanol against gasoline at pumps in São Paulo and in other states in Brazil has also been favoring the good pace of sales. Moreover, gasoline prices may have a tax change in February, which can boost quotes of this fuel. This fact along with the proximity of carnaval in Brazil have also favored trades.
Between January 22 and 26, the CEPEA/ESALQ Index for hydrous ethanol closed at BRL 2.0359/liter (net of ICMS and PIS/Cofins), for a sharp increase of 7.08% compared to that in the previous week – it is the most significant rise of the 2023/24 season. For anhydrous ethanol, the CEPEA/ESALQ Index closed at BRL 2.1974/liter, net of taxes (PIS/Cofins), 4.31% up in the same comparison.
Concerning sellers, some mills were refrained from trades. In general, price offers increased in late January.
(Cepea-Brazil)
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Fonte: Cepea