India’s food ministry doesn’t want OMCs to go below floor price set in 2014

In India, the food ministry doesn’t want Oil Marketing Companies to negotiate prices for ethanol from sugar mills down below the floor price it set last year for the 2015/16 marketing year. Last month, excise duties on sugar was also waived, giving more money pull kilo into farmers’ pockets, but OMCs are trying to negotiate down the prices they have to pay for ethanol.