Brazil contracts 1bn litres in 82th biodiesel auction
Sugarcane harvesting in Brazil
Brazil's Petroleum, Natural Gas and Biofuels Agency (ANP) announced on Tuesday that the country's 82th biodiesel auction has contracted about 1.073 billion litres (282.66m gallons) in total.
The average price of BRL 5.907 per litre achieved in the tender resulted in a cumulative value of approximately BRL 6.34 billion (USD 1.1bn/EUR 962m). In all, 44 producers offered some 1.37 billion litres in the tender.
Roughly 61.83 million were negotiated in the first two days, a combined 899.18 million in the following two days and around 111.61 million in the final day.
The 82th tender covers domestic biofuel supply from November 1 to December 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 the National Energy Policy Council (CNPE) Resolution 16, ANP noted.