Renewable

August 25 (Renewables Now) - Brazil's Petroleum, Natural Gas and Biofuels Agency (ANP) announced on Tuesday that the country's 81th biodiesel auction has contracted about 1.29 billion litres (340.78m gallons) in total.

The average price of BRL 5.658 per litre achieved in the tender resulted in a cumulative value of approximately BRL 7.32 billion (USD 1.37bn/EUR 1.16bn). In all, 45 producers offered some 1.53 billion litres in the tender.

Roughly 80.64 million were negotiated in the first day, a combined 1.07 billion in the following two days and around 141.49 million in the final day.

The 81th tender covers domestic biofuel supply from September 1 to October 31, 2021.

Brazil's biodiesel auctions are organised to ensure the steady mandatory increase of biodiesel in diesel sold at the pump, established in the 13,263 law and ANP Resolution 16, ANP noted.

(BRL 1.0 = USD 0.187/EUR 0.160)