India Lifts Sugar Curbs for Ethanol in Threat to Global Supply [Yahoo! Finance Canada]
WILMAR INTL LTD UNSP/ADR (WLMIY)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg Ethanol producers will be allowed to use sugarcane juice, B-heavy and C-heavy molasses during the 2024-25 year that starts November, according to the food ministry. Authorities will periodically review the measures to ensure there's adequate sugar supply for domestic consumption, the agency said. India stopped millers from using cane juice and syrup to make ethanol in 2023-24 to increase its sugar reserves after poor rainfall damaged some crops. The South Asian nation also implemented curbs on exports, which were extended in October to keep local prices in check ahead of national elections. Benchmark sugar prices have rallied recently after widespread fires in Brazil — the world's top producer — prompted some mills to lower production estimates. The easing of India's ethanol restrictions will help Prime Minister Narendra Modi meet a government target of boosting the proportion of the fuel in gasoline blends to 20% by the year starting November 2025. S
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