Cepea, November 19, 2024 – Sales of hydrous ethanol by mills in São Paulo state were stable from November 11-14. It is worth noting that, in the period before (Nov 4-8), the amount of the biofuel traded had doubled against the previous period. As a result, many distributors were already supplied to meet the demand expected for the holiday in Brazil on November 15 (Proclamation of the Republic).
Between November 11 and 14, the CEPEA/ESALQ Index for hydrous ethanol closed at BRL 2.6278/liter (net of ICMS and PIS/Cofins), for an increase of 0.97% compared to that in the previous period, the sixth consecutive week of price rises. As for anhydrous ethanol, on the other hand, the CEPEA/ESALQ Index closed at BRL 2.8783/liter, net of taxes (PIS/Cofins), downing 1.37% in relation to that in the week before. The demand was low for trades in the spot market.
Unica released a report on November 12 indicating an increase of 0.88% of the cane processed in the accumulated of the current season (from April 1st to November 1st), totaling 566.03 million tons.
As for sugar, the total produced was 37.38 million tons this season, against 37.27 million tons in the same period last crop (+0.27%). The volume of ethanol produced in the same comparison was 28.85 billion liters, moving up 6.87%, being 18.38 billion of hydrous ethanol and 10.46 billion liters of anhydrous. As a result, the production mix was at 48.61% for sugar and 51.39% for ethanol – data from Unica.
(Cepea-Brazil)
Centro de Estudos Avançados em Economia Aplicada – CEPEA-Esalq/USP
