Brazil ANP closes 34th biodiesel auction with sales of 485.6m l

Dec 16, 2013 - Brazil's oil industry watchdog ANP closed the 34th biodiesel auction on Friday with sales of 485.6 million litres (128.3 million gallons).

A total of 99.5% of the contracted biodiesel will be supplied by producers from Centre-West, Northeast, North, Southeast and South, which have a Social Fuel Stamp. This stamp is given to biodiesel producers purchasing a fixed amount of raw materials from family farms.

Local biodiesel distributors acquired the biodiesel with an average discount of 12.83% to the initially set average price of BRL 2,363 (USD 1,014/EUR 737) per litre, ANP said.

On Thursday, the first day of the auction, ANP sold 409.7 million litres of biodiesel.

Following this auction, the distributors are seen to sell about 9.7 billion litres of the B5 biodiesel blend in January and February 2014.

The biodiesel auctions are designed to meet a resolution of the National Energy Policy Council (CNPE), which foresees a 5% minimum mandatory blend of biodiesel to diesel oil. The 34th auction aims to ensure the supply of biodiesel in the domestic market during the period from January to February 2014.

(BRL 1.0 = USD 0.429/EUR 0.312)

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