Indian OMCs buy 1.1 million liters of ethanol from sugar mills at 77 cents

In India, oil marketing companies have agreed to pay sugar mills 77 cents per liter of ethanol, far above the 49 cents ethanol was set at previously. The OMCs will buy 1.1 million liters of ethanol from the mills and are seeking another 1 million liters in exports. Sugar mills had offered 5.5 million liters but the remaining volume wasn’t offered at the lowest price of 77 cents.