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October 26 (Renewables Now) - Brazils Petroleum, Natural Gas and Biofuels Agency (ANP) announced on Friday that the countrys 76th biodiesel auction contracted roughly 1.1 billion litres (292m gallons) in total.
The average price of BRL 5.552 per litre achieved in the tender resulted in a final contract value of around BRL 6.14 billion (USD 1bn/EUR 921.1m). In all, 43 producers offered some 1.2 billion litres in the tender.
A little over 1.09 billion litres were sold in the first four days, all with the Social Fuel Seal, awarded under a government incentive to source raw materials from small farms. Around 10.83 million were sold in the final day.
Brazils 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 76th complementary tender covers domestic biofuel supply from November 1 to December 31, 2020, ANP noted. |
