Indian government preparing to release new pricing policy for ethanol

In India, the government has developed and approved a new price methodology for ethanol, which will be released soon but it isn’t linked to crude oil prices as previously thought. The prices are likely to be higher than those announced in December 2014 that were significantly higher than the floor price set before then but wasn’t enough to encourage mills to boost production. Current prices are still controversial so a new formula had to be developed in order to help the sugar industry achieve more of the 10% ethanol blending mandate.