•  
  •  
  •  

Brazil contracts 760m litres in latest biodiesel auction

Photo by Steve Jurvetson (Flickr) [CC BY 2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons

June 14 (Renewables Now) - The Brazilian Agency of Petroleum, Natural Gas and Biofuels (ANP) announced on Tuesday that 760.3 million litres (200.9m gallons) have been contracted in the 55th biodiesel auction.

At an average price of BRL 2.255 (USD 0.685/EUR 0.608) per litre, the tender traded a total amount of BRL 1.71 billion. Total of 99.95% of the contracted biodiesel volume has the Social Fuel Seal. The seal gives producers incentives to source raw materials from small farms, ANP said.

During the first day of the competition, around 664.9 million litres were sold, or 77.6% of the total offering. As for the second day, a further 95.2 million litres were sold. Overall, 34 producers offered more than 856 million litres of biodiesel, the agency noted.

Brazil's biodiesel auctions are designed to meet the legal requirement for the 8% minimum blend of biodiesel in diesel sold at the pump. This tender will ensure the biofuel supply in the domestic market from July 1 to August 31, 2017.

(BRL 1 = USD 0.304/EUR 0.270)

More stories to explore
Share this story
Tags
About the author
Browse all articles from Lucas Morais

Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription