Last update: 09.07.2011
New Brazil policies may not prevent rising ethanol prices
Source : bloomberg.com
Brazil's move to assume more authority over the country's ethanol supply chain may not prevent a repeat of this month's surge in prices for the renewable fuel, an analyst said. The nation's fuel regulator Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis is taking on more control over the production, import, export and storage of ethanol and other biofuels, according to a presidential decree signed into effect by President Dilma Rousseff yesterday. Brazil also reduced the minimum amount of ethanol that can be mixed with standard gasoline. Ethanol prices reached record highs this month, the end of the annual inter-harvest season when sugar-cane mills are shut down and supplies wane. Prices may go even higher next year, according to Arnaldo Luiz Correa, an analyst at Archer Consulting in Sao Paulo, because demand is rising faster than the supply.
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4 May 2011 |
South & Latin America
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