October 10 (Renewables Now) - Brazil's Petroleum, Natural Gas and Biofuels Agency (ANP) announced on Tuesday that 964.8 million litres (254.9m gallons) were contracted in the 63th biodiesel auction.
Overall, the tender awarded BRL 2.71 billion (USD 729.3m/EUR 633.5m) in total at an average price of BRL 2.814 per litre. Of the 38 producers that offered a little over 1 billion litres of biodiesel, 99.1% bear the Social Fuel Seal, which gives producers incentives to source raw materials from small farms, ANP stated.
The auction had two bidding stages with some 942.4 million litres sold, on the first day, or 91.6% of the total offered. A further 21.7 million litres were contracted next.
Brazil's biodiesel auctions are designed to meet the legal requirement for the 10% minimum blend of biodiesel in diesel sold at the pump. The 63th tender ensures biofuel supply for the domestic market from November 1 to December 31, 2018, ANP noted.
(BRL 1 = USD 0.27/EUR 0.23)