Record molasses prices boosts Philippine ethanol price to $1,165/cu m

In the Philippines, Platts reports Sugar Regulatory Agency data shows record molasses prices pushed domestic ethanol prices to $1,165/cu m during the first half of February. Molasses prices rose to $194.85/mt during the first half of the month bringing ethanol prices to an equivalent of $0.83/liter. Sugar prices also rose during the period to $588.2/mt, leading to equivalent ethanol prices of $0.54/liter. Landed CIF Philippines ethanol was $454.67/cu m during the period but the national blending policy limits the amount of imports in order to support the domestic industry.