2023-09-29 23:17:38
or Marta Nogueira and Roberto Samora
RIO DE JANEIRO (Reuters) – Sales of diesel oil by distributors in Brazil grew 7% in August compared to the same period in 2022, surpassing the 6 billion liter mark in a month for the first time, data from regulator ANP showed in amid strong demand from agricultural activities in the country, which this year has large harvests such as soybeans and corn.
Distributors sold 6.216 billion liters of diesel in August, versus 5.811 billion liters in the same month of 2022, showed the data, published the day before.
“This is a reflection of very strong economic activities, mainly on the agricultural side… with a focus on the soybean, corn and even the sugarcane harvest, it is very strong, and this ends up greatly encouraging the demand for diesel in Brazil” , said Bruno Cordeiro, Market Intelligence analyst for Oil at StoneX.
Diesel consumption in Brazil has a strong correlation with agricultural activities, given the need for fuel both for machinery and equipment and for transporting production to ports and consumption units.
During the year, fossil fuel sales rose 3.1% up to the eighth month, totaling around 43.136 billion liters, also a record for the period.
Cordeiro highlighted that the third quarter is a period of stronger diesel consumption, so the prospect is that sales will continue to be strong during this period.
According to him, Brazil should break a record for diesel sales this year, surpassing 2022.
CYCLE EIGHT
Sales of hydrated ethanol by distributors in Brazil grew more than 13% in August compared to the same month last year, in their first annual increase since January, due to an increase in the competitiveness of the biofuel compared to gasoline at the pumps, data from the regulator showed. ANP.
Distributors sold 1.399 billion liters of hydrated ethanol in August, compared to 1.233 billion liters in the same month of 2022, the data showed.
Cordeiro highlighted that the parity between gasoline C and hydrated ethanol in the State of São Paulo is close to 62%, which greatly benefits the consumption of biofuel.
“It’s a completely different scenario from what we saw in the first half of the year, where in every month… this parity in the State of São Paulo operated above 70%, which ended up benefiting the demand for the fossil”, stated the specialist from StoneX.
Thus, in the first eight months of the year, biofuel sales fell by 6%, totaling 9.5 billion liters.
Even so, gasoline sales also showed an increase, totaling 3.893 billion liters in August, an increase of 1.4% compared to the same month in 2022. In the year to date, fossil fuel has increased by 13.5% , at 30.826 billion liters.
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