https://renewablesnow.com/news/brazil-contracts-1bn-litres-in-72th-biodiesel-auction-696819/
Brazil contracts 1bn litres in 72th biodiesel auction
April 29 (Renewables Now) - Brazil's Petroleum, Natural Gas and Biofuels
Agency (ANP) announced on Tuesday that a little over 1 billion litres
(264.2m gallons) have been contracted in the 72th biodiesel auction.
The average price of BRL 2.713 per litre achieved in the tender resulted
in a total contract value of around BRL 2.77 billion (USD 503.8m/EUR
465.3m). Of the total volume sold at the tender, 99.36% were from
producers with the Social Fuel Seal, awarded under a government
incentive to source raw materials from small farms.
This particular auction faced some obstacles as it had to be rescheduled
due to the economic impact of the international public health emergency
caused by the COVID-19 pandemic.
Brazil's biodiesel auctions are organised to ensure the steady mandatory
increase of biodiesel in diesel sold at the pump, established in the
13,263 law and ANP Resolution 16. The 72th tender covers domestic
biofuel supply from May 1 to June 30, 2020, ANP noted.
(BRL 1 = USD 0.182/EUR 0.168)
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