Brazil buys 646m litres of biodiesel at 49th biodiesel auction
In Brazil, 646.6 million litres of biodiesel have been contracted under the Brazilian Agency of Petroleum, Natural Gas, and Biofuels’ (ANP) 49th biodiesel auction.
ANP also reports that the entire volume carries the Social Fuel Stamp, a certificate part of Brazil’s National Programme of Biodiesel Production and Use, that provides tax incentives to biodiesel producers provided they purchase a certain percentage of their feedstock from small and family farms.
At an average price of BRL2.406 (€0.6162) per litre, the auction awarded around BRL1.55 billion worth of biodiesel contracts.
71.4%, or 564.3 million litres, of the total volume was sold on the first auction day, with 10.25%, equalling to 80.98 million litres, sold on the second, ANP reports.
All in all, 31 producers offered a total volume of 789.97 million litres of biodiesel.
Brazil's biodiesel tenders are designed to meet the legal requirement for at least 7% blend of biodiesel in diesel oil sold at pump stations.
The 49th biodiesel auction will ensure the biofuel supply in the Brazilian domestic market from 1 July to 31 August, 2016.