Philippines lowers Q2 domestic ethanol quota

In the Philippines, Platts reports the Q2 domestic ethanol allocation has been set at 73,650 cu m, broken down into monthly allotments for April, May and June of 24,550 cu m. The total quarterly quota for Q2 is 2,140 cu m lower than Q1 and 3,250 cu m lower than Q2 2017. After rising ethanol prices earlier in the year, they fell to $940/cu m during the first half of February. Landed imported ethanol is about half the price with Platts quoting CIF Philippines at $482.21/cu m during the same period.