Brazil biodiesel auction sees almost 1bn liters sold
Brazilian suppliers sold 994mn liters of biodiesel for 2.4bn reais (US$590mn) in the country's latest tender to supply refiners.
In total, 38 producers participated, offering 1.09bn liters. The average price was 2.438 reais/liter, some 18.27% below the auction price cap, regulator ANP said in a statement. The average price was also below the one in June's auction of 2.631 reais/liter, or 14.3% lower than the cap.
The latest tender was intended to guarantee biodiesel supply in the domestic market from September 1 through October 31.
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