India: Government of India Raises Procurement Price of Fuel Ethanol

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The Government of India (GOI) announced a price fixing scheme for fuel ethanol procurement for parastatal oil marketing companies (OMCs). The program fixes landed-ethanol prices at OMC depots from INR 48.50 to INR 49.50 per liter, a three to five percent increase over the previous price. This will likely accelerate India’s ethanol blending program (EBP), infuse cash into the local sugar industry, help millers pay down debts, and curtail (by some estimates) upwards of $750 million in crude oil imports.

India: Government of India Raises Procurement Price of Fuel Ethanol

South and Central Asia, India
Biofuels, Sugar

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