Cepea, March 17, 2025 – The first week of March (period after carnaval this year in Brazil) registered only a few ethanol trades. With less days to close deals, some players returned to activities only on March 6.
Distributors were unwilling to close deals involving large volumes because of the beginning of industrial activities of the 2025/26 season in some processing units and of the continuous corn ethanol supply. It is worth noting that the product from the new crop may start hitting the market in the coming weeks, but this will depend on weather conditions. As for sellers, some mills intensified sales due to the end of the crop-year; however, the volume of trades was only able to press down quotations slightly.
Between March 5 and 7, the CEPEA/ESALQ Index for hydrous ethanol closed at BRL 2.8406/liter (net of ICMS and PIS/Cofins), downing only 0.41% compared to that in the previous period. As for anhydrous ethanol, the CEPEA/ESALQ Index closed at BRL 3.2491/liter, net of taxes (PIS/Cofins), for a decrease of 0.2% in relation to that in the week before.
FEBRUARY – Considering the full weeks of February, the average of the CEPEA/ESALQ Index for hydrous ethanol closed at BRL 2.8476/liter, 2.9% up compared to January. As for anhydrous ethanol (sales in the spot market only), the average closed at BRL 3.2456/liter, for an increase of 3.37%.
(Cepea-Brazil)
Centro de Estudos Avançados em Economia Aplicada – CEPEA-Esalq/USP
