Platts proposes to launch Brazil HEFA SAF cost-of-production assessments, effective Nov. 2

Platts, part of S&P Global Energy, proposes to launch two daily calculated assessments representing the cost of producing sustainable aviation fuel, synthesized paraffinic kerosene produced via the hydroprocessed esters and fatty acids pathway in Santos, Brazil, effective Nov. 2, 2026.

The proposed prices would reflect production of SPK from HEFA following ASTM D7566 specifications. They would reflect a relative density of 760 kg/cubic meter at 15 degrees Celsius.

Platts has observed growing interest in Brazil's HEFA SAF market, supported by the Fuel of the Future law and the ProBioQAV program. The proposed assessments would provide greater transparency into the cost of producing HEFA SAF in Brazil using locally relevant feedstocks.

The two proposed assessments would reflect the following feedstocks:

BASIS AND LOCATION: The proposed assessments would reflect the cost of producing HEFA SAF in Santos, Brazil.

Platts may normalize daily price inputs to a Santos-delivered basis using applicable freight and related costs, including state taxes where relevant.

CALCULATION METHODOLOGY: Platts proposes to use model assumptions from S&P Global Energy Platts Process Economics Program, including feed rates, production capacity, capital expenditure, yields, depreciation and fixed costs.

Fixed costs and depreciation would be updated when the underlying PEP model is revised. If there are any changes to these costs, Platts would update the value accordingly and inform the market by publishing subscriber notes.

Daily variable-price inputs would include Platts assessments for feedstocks, coproducts and utilities.

The proposed principal model assumptions are:

The SAF cost-of-production inputs would be SBO (SYOBA00) or TCO (TEMGB00) feedstock price, hydrogen produced through steam methane reforming without carbon capture and storage, utilities based on Brazil Conventional Power (BCPSB01) and Brazil Natural Gas PG (BRAPG02), along with other costs such as the catalyst, fixed costs and depreciation. Revenue from the sale of physical coproducts would be deducted from the production cost as coproduct sales-value offsets. These offsets would be based on Propane CFR Santos Cargo (BLSAA00), Gasoline FCA Santos (GASCF00) and Biodiesel DAP Paulinia (ABPLB00). Prices outside Brazil Santos may be considered and normalized to reflect the assessment region.

UNITS AND CONVERSION: The Brazil HEFA SAF costs of production would be published in $/metric ton and real/cubic meter. Platts would use the US dollar/real exchange-rate assessment published under symbol USDBL00 and a density of 760 kg/cu m at 15 degrees Celsius for the conversion.

FREQUENCY AND TIMING: The assessments would be published daily and would reflect a 1730 São Paulo time market close. They would follow the São Paulo publishing schedule.

The proposed assessments would be published on Energy Core, in Biofuelscan, Biomass-Based Diesel Report, US Marketscan, Oilgram Price Report, Aviation Weekly, Brazil Fuels Daily, Platts Combustíveis Brasil Weekly and on fixed pages PB010, PB011, PB012, PB0220, PB0221 and RF0483.

Please submit any feedback, comments, or questions to platts_biofuels@spglobal.com and pricegroup@spglobal.com by Oct. 1, 2026.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.