Philippines ethanol prices hit 10-week high following US market higher

In the Philippines, CIF ethanol prices have hit a 10-week high to $537.33/cu m thanks to higher ethanol futures prices in the US and higher freight rates out of the US Gulf and Far East. Freight is expected to remain high due to methanol arbitrage into China from the US. Prices have risen 5% since May 10. The high prices are likely to weigh on demand by blenders, which will eventually soften prices in response.