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In 2023, China’s biofuels policies continue to wane as a priority for the People’s Republic of China (PRC). Post forecasts China to produce and consume 3.9 billion liters of fuel ethanol in 2023, only slightly higher than 2022 consumption despite the end of “Zero Covid.”

India’s average ethanol blending rate with petroleum for calendar year 2022 is estimated at 9.3 percent. India’s position as a structural surplus sugar producer and gradual utilization of alternative feedstocks will drive supply, while a 35 percent increase in offtakes by parastatal oil marketing companies for ethanol blending will drive demand.

Thailand doubled its target to reduce greenhouse gas emissions in COP26. The Thai government has yet to finalize the new biofuel consumption targets. Biofuel consumption in 2021 and 2022 is still far below current targets due to the prolonged outbreak of COVID-19 and the slow economic recovery after the pandemic caused by Russia’s invasion of Ukraine.