June 28 (Renewables Now) – Brazil’s Petroleum, Natural Gas and Biofuels Agency (ANP) announced on Friday that the country’s 80th biodiesel auction has contracted about 1.1 billion litres (290.5m gallons) in total.
The average price of BRL 5.485 per litre achieved in the tender resulted in a cumulative value of approximately BRL 6.05 billion (USD 1.2bn/EUR 1bn). In all, 43 producers offered some 1.46 billion litres in the tender.
Roughly 57.7 million were negotiated in the first day, a combined 917.68 million in the following two days and around 126.86 million in the final day.
The 80th tender covers domestic biofuel supply from July 1 to August 31, 2021.
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, ANP noted.
(BRL 1.0 = USD 0.202/EUR 0.169)