Brasil Ecodiesel reaches 62 percent market share in Brazil, records first quarterly profit

In Brazil, Brasil Ecodiesel reported a US$630,000 profit in the third quarter, the biodiesel producer’s first-ever quarterly profit. Brasil Ecodiesel has a 62 percent market share in the Brazilian biodiesel market. The company recorded revenues of $73 million for the quarter.

The Brazilian government has targeted reaching a B5 biodiesel blend level by 2013. Brazil has set a B2 blending mandate effective in January 2008, and the director general at the National Petroleum, Natural Gas and Biofuel Agency (ANP), said that he expected that there would be enough biodiesel to cover more than twice the amount mandated.

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