OMCs still haven’t bought ethanol from Indian sugar mills

In India, oil marketing companies have yet to actually purchase any ethanol resulting from the previous tender despite having LOIs with mills for 240 million liters. What’s more, the OMCs are meant to purchase 1.3 billion liters to achieve the 5% blending mandate and mills had offered 630 million liters during the tender in July. Mills were meant to begin delivering ethanol as soon as Dec. 1 but delays have meant some mills sold or exported their molasses to make ends meet.