Oil refiners shelled out a record over US$2 billion to meet US biofuels requirements in 2016, a 70% increase that is fuelling a growing debate over who should shoulder the costs for meeting environmental regulations, reported Reuters.
Argentina – Ethanol blend in gasoline increased to 12% [Registered]
The additional ethanol would be exclusively derived from sugarcane, President Mauricio Macri said at a news conference in Tucuman, Argentina’s main-sugar producing region.
Brazil – Ethanol blend in gasoline increased to 27% from 25% [Registered]
The higher blend is the latest of several measures taken by the government expected to have a positive effect on the industry’s bottom line going forward.
In the past years, local firms such as Raizen , Biosev, Bunge, Sao Martinho and Guarani have struggled to post consistent and robust profits as rising production costs combined with government gasoline subsidies have squeezed mills’ margins.
Monthly Snapshot
Raw sugar for March delivery settled at 19.82 cents/pound on January 18 after reaching a two-and-a-half-week high earlier in the session at 20.25 cents. The white sugar contract expiring in […]
Read more …Join us on LinkedIn
