Inspenet, September 3, 2023.
Adjustments in the price of bioethanol
Through the publication of Resolution 709/2023 in the Official Gazette on August 28, a measure with a direct impact on the bioethanol market derived from corn and sugar cane will be implemented. In consideration of the complexity of the national macroeconomic situation, the Ministry of Energy has made the decision to reform both the prices and the calculation formulas that regulate this industry. As a result, a new value has been established for the purchase of the biofuel.
Within this panorama, that produced from sugar cane is valued at $237,672 per liter , with the purpose of its necessary combination with gasoline. Simultaneously, bioethanol obtained from corn has been valued at $224,309 per liter .
The cunning of the authorities is further accentuated by taking into account that the bioethanol content in gasoline should currently reach 12%. The methods that determine the prices of bioethanol, both from corn and sugarcane, will be the subject of a thorough review. These adjustments will take effect as of November 1, 2023 , offering greater transparency in the evaluation of these biofuels .
The purpose of the resolution issued by the Ministry of Energy is to ensure that bioethanol acquisition costs reflect the current expenditures of manufacturing companies within this scope.
Each of the operative points is detailed below in more detail:
Article 1: Sets the purchase cost of bioethanol obtained from sugar cane at $237,672 per liter.
Article 2: Establishes the purchase price of bioethanol derived from corn at $224,309 per liter.
Article 3: Defines a period of 30 consecutive days for the payment of bioethanol produced from sugar cane and corn.
Article 4: Modifies Annexes I and II of Resolution No. 373/23 of the Ministry of Energy.
Article 5: Indicates the date on which the resolution will enter into force.
Article 6: Orders the publication of the resolution in the Official Gazette.
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