Argentina lowers ethanol prices for October but still high year-on-year

In Argentina, the oil industry has gotten a slight reprieve after the government cut sugarcane-based ethanol prices to 87 cents/liter for October, down 0.8% from September but up nearly 36% on the year. Corn-based ethanol saw a nearly 70% year-on-year price increase to 82 cents/liter, but the drop from September was the same as for cane-based fuel. The country currently has a 12% ethanol-blending mandate. Production was up 6% during the first half of the year to 380,745 metric tons while consumption rose less than that at 5.4%.