Philippine ethanol producers agree on benchmark prices

In the Philippines, ethanol producers have agreed with the Independent Philippine Petroleum Companies Association on benchmark prices for ethanol— based on both the prices of sugar and molasses, plus the processing cost— but the deal is waiting for sign off from the Department of Energy. It was also agreed that domestic ethanol should not be more than cents higher than ethanol on the international market, which would give local ethanol an advantage since it isn’t subject to freight or VAT.