Indian corn prices jump 20% since October due to future ethanol demand

In India, the Economic Times reports that corn prices have soared 20% between October and mid-January since the government announced it would try to offset lower ethanol production from sugarcane with corn-based ethanol. The government has brought forward the 20% ethanol blending mandate to 2025/26 yet lower sugarcane production in the season that officially kicked off on October 1 has led it to significantly limit the use of sugarcane juice as ethanol feedstock and ban molasses exports.