Latest Brazil biodiesel auction trades US$510mn
Brazilian suppliers sold 674Ml of biodiesel in the country's latest auction for the biofuel for a total 1.62bn reais (US$510mn).
The average price was 2,398 reais/liter, down 15% on the auction price cap, hydrocarbons regulator ANP said in a statement.
The 50th auction aims to guarantee biodiesel supply in the local market from September 1 through October 31 of this year.
The watchdog's latest monthly biofuel bulletin reveals there are 51 authorized biodiesel production plants in the country with combined capacity of 19,977m3/day, and that two plants are under construction, while another two are authorized to increase capacity.
ALSO READ: Brazil biodiesel output dips and Brazil creates biodiesel working group
In a related note, IFC approved 150mn reais to CerradinhoBio, an ethanol and biomass-based electricity producer operating in Brazil's Goias state.
The financing will help the company increase production of bioethanol by 28%, and more than double its generation capacity of bagasse-fired power to be used for its own energy supply, with the excess being exported to the national electric grid, the lender said in a statement.
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