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Brazil contracts 977.5m litres in 65th biodiesel auction

Author: United Soybean Board.

February 14 (Renewables Now) - Brazil's Petroleum, Natural Gas and Biofuels Agency (ANP) announced on Wednesday that 977.52 million litres (258.23m gallons) have been contracted in the 65th biodiesel auction.

The tender awarded contracts of roughly BRL 2.28 billion (USD 608.5m/EUR 539m) at an average price of BRL 2.333 per litre. Total of 40 producers offered over 1.12 billion litres of biodiesel. ANP said 99.79% 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 884.18 million litres sold in the first day, all with the Social Fuel Seal, and 92.11 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 65th tender ensured biofuel supply for the domestic market from March 1 to April 30, 2019, ANP noted.

(BRL 1 = USD 0.27/EUR 0.24)

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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.

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