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The price of hydrated ethanol rose again in the state of São Paulo.
In the ethanol market, the week leading up to Carnival was marked by few deals, according to information from TF Agroeconomic. “The daily ESALQ/BM&FBOVESPA Posto Paulínia (SP) indicator for hydrated ethanol advanced 0.14%. As a result, the price of a liter of biofuel, which was R$ 2.803/L yesterday, ended the day at R$ 2.806/L”, he comments.
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“According to Agricultural Analysis (Broadcast Agro/CAPEA), the week leading up to the carnival break was marked by few deals involving hydrated and anhydrous ethanol in the state of São Paulo. Occasionally, sales involving slightly larger volumes were recorded. Market agents were already predicting more specific buying and selling movements, after a period of business growth, aiming to meet demand for the Carnival break”, he adds.
Furthermore, even amid low liquidity, the price of hydrated ethanol rose again in the state of São Paulo. Between February 13th and 17th, the weekly CEPEA/ESALQ Indicator for hydrous ethanol, a producing segment in the state of São Paulo, closed at R$ 2.6980/liter (net of ICMS and PIS/Cofins – zero rate), an increase of 1.88% compared to the previous period. “Just a few days before the end of February, the expectation of the return of fuel taxes is positive, a factor that has supported the seller's firm stance. If it weren't for this, the price movement could be different, due to the high price parity at pumps in São Paulo and the relatively calm stocks to meet fuel outflows and the possibility of starting crushing as early as March”, he concludes.
Source: Leonardo Gottems | agrolink
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