April 16 (Renewables Now) - Brazil's Petroleum, Natural Gas and Biofuels Agency (ANP) announced on Monday that some 928.51 million litres (245.28m gallons) have been contracted in the 66th biodiesel auction.
The tender awarded contracts with a total value of BRL 2.12 billion (USD 545m/EUR 482.4m) at an average price of BRL 2.287 per litre. In all, 39 producers offered a little over 1 billion litres of biodiesel, of which 99.73% had the Social Fuel Seal, a government incentive to source raw materials from small farms.
The auction had two bidding stages with some 809.86 million litres sold in the first day, all with the Social Fuel Seal, and 117.52 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 66th tender ensured biofuel supply for the domestic market from May 1 to June 30, 2019, ANP noted.
(BRL 1 = USD 0.26/EUR 0.23)