Indian ethanol price hike to cost OMCs another $12M

In India, the Hindu Business Line newspaper reports that oil marketing companies will have to spend an additional $12 million on ethanol purchases following the government’s price increase for ethanol produced from broken rice and corn. No corn-based ethanol has been supplied so far this marketing year despite incentives and a production quota while less than half of the ethanol from broken rice has been supplied to OMCs. The sugar industry is seeking a ban on molasses exports in hopes of filling the supply gap by distilling molasses.