Philippines domestic ethanol prices 4% higher in January

In the Philippines, Platts reports that domestic ethanol prices rose by another 4% in January to $893/ton compared to $471.24/cu m for CIF Philippines. Molasses prices rose during the month, leading to higher production costs for distillers. The government requires a certain amount of domestic ethanol to be purchased monthly based on quotas established on a quarterly basis before oil companies can import at cheaper prices to make up the remainder of the volume demanded under the blending mandate.