Ethanol prices settles

In India, after years of battling between sugar mills and oil companies over the fair market price for ethanol, the price has finally been set at INR35 (62 cents), up from INR27 as had been set by a cabinet committee a few years ago as a temporary measure until a fairer pricing formula could be developed. Delays by the oil marketing companies in setting the purchase tender meant less domestic ethanol was available after mills were forced to sell their molasses earlier in the season. The E5 blending policy begins nationwide on June 1.