December 13 (Renewables Now) - Brazil's Petroleum, Natural Gas and Biofuels Agency (ANP) announced on Tuesday that 914.97 million litres (241.70m gallons) have been contracted in the 64th biodiesel auction.
Overall, the tender awarded contracts for roughly BRL 2.41 billion (USD 625m/EUR 549.6m) at an average price of BRL 2.635 per litre. Total of 39 producers offered over 1 billion litres of biodiesel. ANP said 99.11% of the contracted volumes have been given government incentives to source raw materials from small farms through the Social Fuel Seal.
The auction had two bidding stages with some 847.27 million litres sold in the first day, or 80.72% of the total. A further 66.92 million litres were contracted the next day.
Brazil's biodiesel auctions are designed to meet the legal requirement for the 10% minimum blend of biodiesel in diesel sold at the pump (B10). The 64th tender ensured biofuel supply for the domestic market from January 1 to February 28, 2019, ANP noted.
(BRL 1 = USD 0.26/EUR 0.23)