Cepea: Higher Ethanol Supply Knocks Down Prices in Brazil
NEW YORK (DTN) -- The number of operating ethanol plants in south-central Brazil rose by 50 or 71% in the past year to 120 at the end of March, up from 70 a year earlier, according to a report by Cepea, a research center linked to Brazil's Sao Paulo University.
As a result, sugarcane crush increased by 6.4% to 603.6 million tons, the report added. Conversely, the price of hydrous ethanol, which doesn't require blending and is used by Brazil's flex fuel vehicles, fell 19% to $1.61 gallon at the end of March, the report added.
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