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Bioethanol: Trading

How India's government sets ethanol prices by feedstock

How India's government sets ethanol prices by feedstock What this tab covers How it is bought and sold: buyers and sellers, price benchmarks and who publishes them, exchanges, contract types, traders, how Indian buyers price it, recent price points, and good sources to follow.

Who buys, and where

  • EU blenders and traders in Rotterdam (ARA)
  • Canada, Japan, Korea, Philippines and Colombia importers
  • India buys denatured ethanol for industry, not fuel

Who sells, and from where

  • US Gulf and Midwest producers via rail to Houston
  • Brazil (Santos) when sugar is weak
  • Netherlands re-exports

Price benchmarks

BenchmarkPublisherBasis
Platts Chicago Argo ethanolS&P Globaldaily spot, US$/gal
Ethanol T2 FOB RotterdamPlatts / Argusdaily spot, euro/m3
CEPEA/ESALQ hydrous and anhydrous ethanol indicatorsCEPEAweekly, Sao Paulo, R$/litre
OMC administered procurement prices by feedstockGovernment of India / OMCsper ethanol supply year, Rs/litre ex-distillery

Exchanges

VenueContractNotes
CME GroupChicago Ethanol (Platts) futures, financially settledmain US hedge (indicative)
B3 (Brazil)hydrous ethanol futuresthin liquidity (indicative)

Contract types

  • Annual OMC tenders in India with fixed prices by feedstock and allocation by distillery
  • US rail and barge spot and monthly contracts indexed to Chicago Argo
  • Brazil spot and term contracts with distributors indexed to CEPEA

Traders and distributors

  • Major grain houses (ADM, Cargill, Bunge) and fuel traders (Vitol, Trafigura, Glencore) (indicative)
  • Raízen and Copersucar in Brazil (indicative)

How Indian buyers price it

  • OMC procurement prices set by the government by feedstock each ESY: Rs 65.61 juice, Rs 60.73 B-heavy, Rs 57.97 C-heavy (2025-26, sugar tile); maize Rs 68.86 and FCI rice Rs 60.32 for 2026-27 (ThePrint, Oct 2026)
  • GST on ethanol for blending is 5% (indicative)
  • Fuel ethanol imports are restricted, so there is no import parity for blending ethanol (indicative)

Recent price points

DatePriceBasisSource
Oct 2026Rs 68.86 per litremaize ethanol, ESY 2026-27 OMC price (down from Rs 71.86)Deccan Chronicle, 18 Oct 2026; ThePrint, 19 Oct 2026 (BPCL tender of 16 Oct 2026)
Oct 2026Rs 60.32 per litreFCI surplus rice ethanolThePrint, 19 Oct 2026
Oct 2026Rs 57.97 per litreC-heavy molasses ethanol (ISMA seeks Rs 62.23)ThePrint, 19 Oct 2026
2025-26Rs 65.61 per litrecane juice ethanol (barred for 2026-27)sugar tile

Good sources to follow

RFA market and statisticsfree research site · Renewable Fuels Association

world and US ethanol production, trade and outlook

BioEnergy Timesfree newsletter · BioEnergy Times

Indian ethanol tenders, prices, sugar and grain feedstock news

farmdoc dailyfree blog · University of Illinois

US ethanol and biodiesel economics, RFS and RIN analysis

USDA FAS GAIN Biofuels Annual reportsfree research site · USDA Foreign Agricultural Service

country biofuel balances, including India