India’s competition watchdog finds evidence of mills colluding over ethanol prices

In India, the Competition Commission of India has found evidence of sugar mills colluding on price during the ethanol auctions held to supply the national blending policy during 2014. The chemical industry has lobbed allegation of price fixing against the sugar industry but this is the first time the CCI has found evidence of such anti-competitive behavior. The prices offered by mills at auction were above market price and in many cases very similar, which the CCI alleges was coordinated by the Indian Sugar Mills Association. The first hearing on the case was held Oct. 6 with a decision likely to be made by the CCI in between three and six months.