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
| Benchmark | Publisher | Basis |
|---|---|---|
| Platts Chicago Argo ethanol | S&P Global | daily spot, US$/gal |
| Ethanol T2 FOB Rotterdam | Platts / Argus | daily spot, euro/m3 |
| CEPEA/ESALQ hydrous and anhydrous ethanol indicators | CEPEA | weekly, Sao Paulo, R$/litre |
| OMC administered procurement prices by feedstock | Government of India / OMCs | per ethanol supply year, Rs/litre ex-distillery |
Exchanges
| Venue | Contract | Notes |
|---|---|---|
| CME Group | Chicago Ethanol (Platts) futures, financially settled | main US hedge (indicative) |
| B3 (Brazil) | hydrous ethanol futures | thin 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
| Date | Price | Basis | Source |
|---|---|---|---|
| Oct 2026 | Rs 68.86 per litre | maize 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 2026 | Rs 60.32 per litre | FCI surplus rice ethanol | ThePrint, 19 Oct 2026 |
| Oct 2026 | Rs 57.97 per litre | C-heavy molasses ethanol (ISMA seeks Rs 62.23) | ThePrint, 19 Oct 2026 |
| 2025-26 | Rs 65.61 per litre | cane juice ethanol (barred for 2026-27) | sugar tile |
Good sources to follow
RFA market and statisticsfree research site · Renewable Fuels Associationworld and US ethanol production, trade and outlook
BioEnergy Timesfree newsletter · BioEnergy TimesIndian ethanol tenders, prices, sugar and grain feedstock news
farmdoc dailyfree blog · University of IllinoisUS ethanol and biodiesel economics, RFS and RIN analysis
USDA FAS GAIN Biofuels Annual reportsfree research site · USDA Foreign Agricultural Servicecountry biofuel balances, including India