India Approves Ethanol Price Increase
November 8, 2017http://in.reuters.com/article/us-india-ethanol/india-raises-ethanol-price-by-5-percent-to-ease-pressure-on-suppliers-idINKBN1D1475
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India's cabinet has recently approved a 5% increase in the price of ethanol to ease pressure on suppliers of the fuel and cut crude imports. The price of ethanol was fixed at 40.85 rupees, or $0.6327 per liter, and would be in effect for a year starting on December 1, 2017.
India has been aiming to boost the use of ethanol as a cleaner fuel option in terms of carbon emissions. The government has also made it mandatory to blend 5% ethanol in petrol. However, oil companies find it difficult to source the sugar by-products cheaply due to its use in the heavily taxed liquor industry. Furthermore, sugar mills prefer to sell to higher-paying spirit distilleries, where they get a better and quicker deal.
Indian millers use molasses, a by-product of sugar-making, to produce ethanol, so a rise in sugar production will also boost ethanol output.
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