Brazil shuts down biodiesel auction midway as biodiesel prices spike

In Brazil, Platts reports that the ANP fuels agency suddenly suspended its biodiesel auction this week at the request of the Ministry of Mines and Energy with sources expecting that the unprecedented move was as a result of record biodiesel prices. The suspension occurred during the part of the auction exclusively for small-scale farmers, when prices jumped to nearly $1,410 per cubic meter, nearly 26% higher than the previous auction due to rising soybean oil prices. As much as 61,400 cu m were traded before the auction was suspended, more than 62% of the total allowed during the small-scale farmer stage.