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India has ordered state-run fuel retailers to stop procuring ethanol made from sugar and primary sugarcane feedstock, a move that may help control sugar prices. The policy will take effect in India's new supply year starting November 1. Drought conditions this summer battered sugarcane yields, driving up global sugar prices.
State-owned refiners Indian Oil Corporation, Bharat Petroleum Corporation, Hindustan Petroleum Corporation, Numaligarh Refinery Limited, and Mangalore Refinery and Petrochemicals Limited jointly issued a tender under the government's latest directive to procure nearly 11 billion liters of ethanol for the new supply year. The tender document released on Friday specified that this bulk tender will not accept bids for ethanol produced from sugarcane juice, sugar, syrup, or B-grade heavy molasses.
India is the world's second-largest sugar producer. A strong El Nino phenomenon caused the weakest monsoon in over a decade, resulting in lower domestic sugarcane harvests compared to last year and tightening sugar supplies. India has been gradually expanding ethanol production from sugarcane and grain, aiming to reduce dependence on imported oil while creating additional income streams for farmers. Prime Minister Narendra Modi's government had moved forward by five years the target of blending 20% ethanol into gasoline, and achieved that goal in 2025.
Suppliers participating in this tender may submit ethanol produced from C-grade heavy molasses, damaged grain, surplus rice procured from the Food Corporation of India, corn, and other feedstocks permitted under the National Biofuel Policy. Sina partnership platform for futures account opening — safe, fast, and guaranteed.
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