India’s OMCs tender for 970 million liters of ethanol

In India, oil marketing companies have floated a tender for 970 million liters of ethanol with bids due on Jan. 12. As petrol prices fall, the OMCs see paying more for ethanol as financially unviable, but the price was set earlier this month by the government, forcing the companies to pay10% to 20% more than the average during the past year.