Brazil contracts 964.8 million liters of biodiesel for $729.3 million at auction

In Brazil, ANP sold 964.8 million liters of biodiesel at its most recent auction at an average price of 75 cents per liter totaling $729.3 million. More than 1 billion liters of biodiesel was offered at the two day auction by 38 producers, 99.1% of which bored the Social Fuel Seal indicating feedstock was sourced from small farmers. The first day of the auction saw 942.4 million liters sold with the remainder sold on the second day. The fuel will be used to supply the country’s B10 blending mandate between November 1 and December 31.