Ethanol providing more profit than sugar to Indian mills

In India, Bloomberg reports that the push to boost ethanol production and consumption domestically has helped to increase revenues for sugar mills, accounting for up to 56% of the profit generated by the country’s three biggest sugar companies during the first nine months of the year. Typically, ethanol counts for a third or less of PBIT. The percentage is a bit misleading, however, because ethanol revenues have held steady or risen somewhat but sugar revenues have fallen sometimes significantly