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Posted on  

December 11, 2000

Brazil sells Ethanol

Brazil's government sold 100.3 percent of the 50 million liters of hydrous and anhydrous alcohol offered on Friday, according to federal bank Banco do Brasil.

Revenue at the public auction, held via Banco do Brasil's electronic sale network, totaled 29.86 million reais ($15.17 million) at a weighted average price of 0.595 reais ($0.30) per liter, or a simple average price of 0.611 reais.

At the last auction on November 9, the government sold 100.2 percent of the 45 million liters of hydrous and anhydrous alcohol offered.

The alcohol stocks were offered this Friday in 9 separate lots from the center-south region including the states of Sao Paulo, Santa Catarina, Rio de Janeiro and the Federal District.

Alcohol prices have taken off in Brazil in recent weeks. The government hopes to use the stock auctions bring down rising prices by introducing more supply.

Brazil's millers use their cane crush to refine into sugar or distill into two types of alcohol, hydrous and anhydrous.

In Friday's auction, the government auctioned anhydrous alcohol -- the type added to all gasoline sold in Brazil -- along with hydrous alcohol from its stocks.  

 

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