BRAZIL: UNICA sees ethanol staying above US$0.34
Published: 03/05/2010, 7:53:17 AM
UNICA said Thursday that ethanol prices shouldn't plunge to BRL0.60 Brazilian reals ($0.34) a litre this year, according to Dow Jones.
Antonio de Padua Ribeiro, UNICA's technical director, said that current ethanol prices in Brazil's main center-south sugarcane region are around BRL0.90 a litre at the mill gate without taxes.
"I hope that it won't fall much more," Antonio de Padua Ribeiro told reporters in Brasilia.
Ethanol prices tumbled last year to around BRL0.60 a litre as mills rushed to crush large volumes of sugarcane into ethanol at the start of the harvest.