Brazil's 46th biodiesel tender ends with 581m litres sold

The Brazilian Agency of Petroleum, Natural Gas and Biofuels, or ANP, said on Monday that 580.6 million litres of biodiesel have been contracted at its 46th biodiesel auction.

About 99.9% of the total volume has the Social Fuel Seal, which gives biodiesel producers incentives to source raw materials from small farms.

At an average price of BRL 2.696 (USD 0.696/EUR 0.632) per litre, the tender negotiated about BRL 1.56 billion in biodiesel contracts. About 515.6 million litres were sold on the tender's first day, or 70.7% of the total offering. On the second day, 64.99 million litres were sold, about 11.2% of the total offering.

In all, 35 producers offered a total volume of 729.78 million litres, of which 99.93% had the Social Fuel Seal.

The biodiesel tenders are designed to meet the legal requirement for at least 7% blend of biodiesel in diesel oil sold at the pump station. The 46th Biodiesel Auction will ensure the biofuel supply in the domestic market from January 1 to February 29, 2016.

(BRL 1 = USD 0.258/EUR 0.234)

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