Indian cabinet agrees to cut ethanol prices 21% by December 1

In India, the Cabinet Committee on Economic Affairs agreed to a proposal to cut ethanol prices by 21% of December 1, a move that will take a major hit against sugar mills that are just starting to recover following years of low sugar prices and high cane prices. Oil marketing companies had been holding off on floating tenders to source ethanol just in case there was a policy shift, a delay that has also hurt sugar mills because they’ll need to pay to store ethanol longer until it is picked up.