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Platts NNE Brazil anhydrous ethanol assessment is the weekly price benchmark by S&P Global Commodity Insights 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.
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 Commodity Insights pricing specialists.
Commodity Insights editors engage directly with producers, consumers, traders, brokers, and shippers to gather price information. Commodity Insights 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 Commodity Insights 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. Commodity Insights considers standard payment terms, such as payment within 10 days of delivery.
Based on confirmed trades and market indications, Platts assessed the weekly average price for anhydrous (pure) ethanol on a delivered-at-place Suape basis, for one-to-15 days forward delivery, at Real 3,537.5/cu m on July 11, reflecting a decrease of Real 22.5 from the previous weekly assessment.
On the same day, the daily DAP Suape price was assessed at Real 3,500/cu m on July 11, down Real 40 from the previous session. The assessment was based on a trade of 1,000 cu m at Real 3,500/cu m CIF Suape, reported after market close on July 10. No offers, bids, or trades were reported on July 11.
Platts is part of S&P Global Commodity Insights.
This rationale applies to symbols AAXFW00, AAXFW04 and AAXFW03.
Reveal the Price Assessment
Clique aqui para visualizar esta página em português
Platts NNE Brazil anhydrous ethanol assessment is the weekly price benchmark by S&P Global Commodity Insights 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.
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 Commodity Insights pricing specialists.
Commodity Insights editors engage directly with producers, consumers, traders, brokers, and shippers to gather price information. Commodity Insights 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 Commodity Insights 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. Commodity Insights considers standard payment terms, such as payment within 10 days of delivery.
Anhydrous ethanol values in Northeastern Brazil softened July 11, as sellers became more willing to adjust their positions and offer discounts when negotiating larger volumes.
Based on confirmed trades and market indications, Platts assessed the weekly average price for anhydrous ethanol on a DAP Suape basis (for one- to 15-day forward delivery) at Real 3,537.5/cu m, down Real 22.5 from the previous week.
At ports in the Northeast — especially Suape — sellers were increasingly flexible, lowering initial offers and applying modest discounts to stimulate liquidity. This approach did encourage some buying interest, with regional distributors — who had been sourcing mostly through long-term contracts — returning to the spot market to negotiate.
At the Ipojuca terminals in Pernambuco, offers were heard in the range of Real 3,560–3,600/cu m on a CIF Suape basis, while bids ranged more widely from Real 3,430 to 3,500/cu m. Large-volume deals were reportedly closed at prices up to Real 3,500/cu m. In Goiás, a key producing state in the Center-South, trades were confirmed between Real 3,040 and 3,060/cu m ex-mill, with freight to Suape typically estimated at Real 600–650/cu m.
Despite the uptick in spot activity, most demand in the region continues to be met through long-term contracts. Meanwhile, falling ethanol values in major producing states such as Goiás and São Paulo suggest further price pressure could soon reach the Northeast.
In addition, some market participants are already anticipating an early start to sugarcane crushing at local mills, particularly in Alagoas and Paraíba, between late July and early August. However, it remains uncertain whether this will translate into immediate spot availability, as many local producers are tied into financing arrangements with distributors and are expected to prioritize those agreements once production begins.
Internationally, US-sourced anhydrous ethanol became more expensive, reducing the likelihood of foreign volumes arriving in Brazil. For the week ending July 7, Platts estimated the landed cost at Suape (including taxes) at Real 3,741/cu m — Real 203.5 above the assessed DAP Suape benchmark, effectively closing the arbitrage window.
Excluding taxes, the estimated landed cost stood at Real 3,262/cu m, or Real 275.5 below the DAP Suape value.
On July 9, US President Donald Trump announced a sweeping 50% tariff on Brazilian imports, explicitly citing ethanol as a case of unfair trade. While this announcement stirred market concerns, analysts say the practical impact on Brazil’s ethanol sector may be limited, given already subdued trade volumes and the ongoing nature of the dispute.
They caution that the greater risk lies not in the immediate tariff itself but in potential retaliatory measures or shifts in trade policy that could affect Brazil’s access to strategic markets, especially for advanced biofuels and sustainable aviation fuel partnerships.
Major Brazilian agribusiness associations criticized the move, emphasizing the historically cooperative trade relationship between the two countries. President Luiz Inácio Lula da Silva responded with a firm stance, defending national sovereignty and rejecting external pressure. He announced intentions to invoke Brazil’s Reciprocity Law and hinted at possible retaliatory tariffs on US ethanol imports.
For now, the ethanol market continues to monitor developments cautiously — concerned, but not panicked.
Platts is part of S&P Global Commodity Insights.
Based on confirmed trades and market indications, Platts assessed the weekly average price for anhydrous (pure) ethanol on a delivered-at-place Suape basis, for one-to-15 days forward delivery, at Real 3,537.5/cu m on July 11, reflecting a decrease of Real 22.5 from the previous weekly assessment.
On the same day, the daily DAP Suape price was assessed at Real 3,500/cu m on July 11, down Real 40 from the previous session. The assessment was based on a trade of 1,000 cu m at Real 3,500/cu m CIF Suape, reported after market close on July 10. No offers, bids, or trades were reported on July 11.
Platts is part of S&P Global Commodity Insights.
This rationale applies to symbols AAXFW00, AAXFW04 and AAXFW03.
Reveal the Price Assessment
Platts NNE Brazil Ethanol Weekly Commentary
Anhydrous ethanol values in Northeastern Brazil softened July 11, as sellers became more willing to adjust their positions and offer discounts when negotiating larger volumes.
Based on confirmed trades and market indications, Platts assessed the weekly average price for anhydrous ethanol on a DAP Suape basis (for one- to 15-day forward delivery) at Real 3,537.5/cu m, down Real 22.5 from the previous week.
At ports in the Northeast — especially Suape — sellers were increasingly flexible, lowering initial offers and applying modest discounts to stimulate liquidity. This approach did encourage some buying interest, with regional distributors — who had been sourcing mostly through long-term contracts — returning to the spot market to negotiate.
At the Ipojuca terminals in Pernambuco, offers were heard in the range of Real 3,560–3,600/cu m on a CIF Suape basis, while bids ranged more widely from Real 3,430 to 3,500/cu m. Large-volume deals were reportedly closed at prices up to Real 3,500/cu m. In Goiás, a key producing state in the Center-South, trades were confirmed between Real 3,040 and 3,060/cu m ex-mill, with freight to Suape typically estimated at Real 600–650/cu m.
Despite the uptick in spot activity, most demand in the region continues to be met through long-term contracts. Meanwhile, falling ethanol values in major producing states such as Goiás and São Paulo suggest further price pressure could soon reach the Northeast.
In addition, some market participants are already anticipating an early start to sugarcane crushing at local mills, particularly in Alagoas and Paraíba, between late July and early August. However, it remains uncertain whether this will translate into immediate spot availability, as many local producers are tied into financing arrangements with distributors and are expected to prioritize those agreements once production begins.
US imports vs. domestic prices
Internationally, US-sourced anhydrous ethanol became more expensive, reducing the likelihood of foreign volumes arriving in Brazil. For the week ending July 7, Platts estimated the landed cost at Suape (including taxes) at Real 3,741/cu m — Real 203.5 above the assessed DAP Suape benchmark, effectively closing the arbitrage window.
Excluding taxes, the estimated landed cost stood at Real 3,262/cu m, or Real 275.5 below the DAP Suape value.
On July 9, US President Donald Trump announced a sweeping 50% tariff on Brazilian imports, explicitly citing ethanol as a case of unfair trade. While this announcement stirred market concerns, analysts say the practical impact on Brazil’s ethanol sector may be limited, given already subdued trade volumes and the ongoing nature of the dispute.
They caution that the greater risk lies not in the immediate tariff itself but in potential retaliatory measures or shifts in trade policy that could affect Brazil’s access to strategic markets, especially for advanced biofuels and sustainable aviation fuel partnerships.
Major Brazilian agribusiness associations criticized the move, emphasizing the historically cooperative trade relationship between the two countries. President Luiz Inácio Lula da Silva responded with a firm stance, defending national sovereignty and rejecting external pressure. He announced intentions to invoke Brazil’s Reciprocity Law and hinted at possible retaliatory tariffs on US ethanol imports.
For now, the ethanol market continues to monitor developments cautiously — concerned, but not panicked.
Platts is part of S&P Global Commodity Insights.