Price Assessment

Platts NNE Brazil Anhydrous Ethanol Price Assessment

  • What is NNE Brazil anhydrous ethanol?
  • How do we assess NNE Brazil anhydrous ethanol?
  • Weekly Assessment Commentary
  • Weekly Assessment Rationale
  • Market price heards

What is NNE Brazil anhydrous ethanol?

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Platts NNE Brazil anhydrous ethanol assessment the weekly price benchmark for physical ethanol delivered into Suape, Pernambuco, in northern Brazil.

The assessment reflects anhydrous ethanol Delivered at Place in Suape and takes into consideration ethanol produced regionally, imported from the Center-South region as well as volumes delivered from international locations.

How do we assess NNE Brazil anhydrous ethanol?

The NNE Brazil Anhydrous assessment reflects the weekly tradeable value of a spot anhydrous ethanol at Suape 1-15 days forward from the date of publication, based on trades, bids, offers and indications of tradeable value reported to S&P Global Platts pricing specialists.

Platts editors engage directly with producers, consumers, traders, brokers, and shippers to gather price information. Platts publishes this information and uses it to assess values. The information gathered through market surveys is considered in the final assessment.

These inputs are published throughout the day, in real-time, in the form of "market heards", to allow Platts to test the information, which forms the basis of the assessment and for market participants to give feedback on those inputs.

The assessment reflects a minimum volume 250,000 liters, or 250 m3, maximum volume 1,000,000 liters, or 1,000 m3. Other volumes may also be considered but in relation to the assessed volume range. Platts considers standard payment terms, such as payment within 10 days of delivery.

Weekly Assessment Commentary

  • Bearish demand caps NNE anhydrous regional price
  • Import arbitrage closed at Real 95/cu m in case of non-tariff market


The Brazilian North-Northeast anhydrous ethanol spot price registered a third consecutive week of lower prices in the week ended Dec. 3, reflecting weak fuel demand in the region, strong market concerns about a possible new coronavirus wave and deflated ethanol prices in the Center-South region.


In addition to the macro and fundamental aspects, a vessel loaded with 10,000 cu m of anhydrous from a domestic transfer from Mato Grosso state arrived in Suape port, capping the demand even further in the spot market.

Buyers have been largely out of the spot market as most of their demand has been supplied by long-term contracts, while a few producers have been in a rush to sell in the spot market because of a lack of storage capacity.

Early in the week, a few trades were heard at Real 4,200/cu m out of Pernambuco and Alagoas states, but late in the week offers increased and buyers accepted paying Real 4,300/cu m out of Pernambuco state.

On imports, according to Platts calculations, anhydrous ethanol imported from the US, including the 18% import tariff, could land in Suape at Real 5,172/cu m, down Real 1,849/cu m on the week.

The fall in the import cost was explained by a plunge of 30% on the week in the Platts Ethanol Chicago Argo assessment.

In the case of a non-tariff product, anhydrous ethanol from US could land in Suape at Real 4,395/cu m, down Real 1,567/cu m on the week but still Real 95/cu m higher than Platts DAP Suape assessment.

The tight closed import arbitrage could encourage importers to consider that possibility in the case of a new quota market for imports without tariff from US.

Weekly Assessment Rationale

DAP Suape anhydrous ethanol for one-15 days forward from date of publication was assessed at Real 4,350/cu m Dec. 3, down Real 95/cu m on the week.


The assessment reflected a trade heard Dec. 3 for 120 cu m at Real 4,300/cu m ex-mill Pernambuco and an outstanding offer at the same location at Real 4,450/cu m against no bids. Platts considered freight of Real 50/cu m from Pernambuco mill to Suape.

This rationale applies to symbol(s) <AAXFW04>.

Market price heards

03 Dec 2021 — Anhydrous: Traded "Thu", Real 4200/cu m, ex-mill Alagoas

03 Dec 2021 — Anhydrous: Offer, Real 4450/cu m, ex-mill Alagoas

03 Dec 2021 — Anhydrous: Traded "early on the week", Real 4200/cu m, ex-mill Alagoas

03 Dec 2021 — Anhydrous: Traded "early on the week", Real 4280/cu m, ex-mill Pernambuco

03 Dec 2021 — Anhydrous: Traded "Tue", Real 4200/cu m, ex-mill Alagoas

03 Dec 2021 — Anhydrous: Traded (120 cu m) , Real 4300/cu m, ex-mill Pernambuco

03 Dec 2021 — Anhydrous: Offer, Real 4450/cu m, ex-mill Pernambuco

03 Dec 2021 — Anhydrous: Traded (200 cu m), Real 4200/cu m, ex-mill Pernambuco

03 Dec 2021 — Anhydrous: Indicative Value, Real 4300/cu m, ex-mill Pernambuco

03 Dec 2021 — Anhydrous: Offer, Real 4400/cu m, ex-mill Alagoas

03 Dec 2021 — Anhydrous: Indicative Value, Real 4300/cu m, ex-mill Pernambuco

03 Dec 2021 — Hydrous : Traded "Tue" (1,000 cu m), Real 3350/cu m, ex-mill Pernambuco (inside the state), 1-15 da

03 Dec 2021 — Anhydrous: Offer, Real 4500/cu m, ex-mill Pernambuco


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