June 11 (Renewables Now) - Brazil's Petroleum, Natural Gas and Biofuels Agency (ANP) announced on Monday that some 984.44 million litres (260m gallons) have been contracted in the 67th biodiesel auction.
The tender awarded a total value of BRL 2.29 billion (USD 589.3m/EUR 521m) at an average price of BRL 2.329 per litre. In all, 39 producers offered some 1.12 billion litres, of which 99.64% had the Social Fuel Seal, a government incentive to source raw materials from small farms.
The auction had two bidding stages with some 920.49 million litres sold in the first day, all with the Social Fuel Seal, and 63.05 million litres on the following day.
Brazil's biodiesel auctions are aimed to meet the legal 10% minimum requirement blend of biodiesel in diesel sold at the pump (B10). The 67th tender ensures domestic biofuel supply from July 1 to August 31, 2019, ANP noted.
(BRL 1 = USD 0.26/EUR 0.23)