Philippines' January domestic ethanol reference price up 4% on month


The Philippines' domestic bioethanol reference price increased by 4.28% on the month to Pesos 45.77/liter ($893/mt)in January, according to data released Wednesday by the Sugar Regulatory Administration.

In comparison, the monthly average CIF Philippines fuel ethanol price on the import market was $471.24/cu m in January, S&P Global Platts data showed. The Philippine reference price was calculated by adding up transportation costs and the average cost of two major feedstocks for ethanol production, molasses and sugarcane.

According to the report, the Negros molasses price increased Pesos 562.161/mt from December to Pesos 5,099.76/mt in January, resulting in a higher equivalent feedstock cost of Pesos 22.65/liter.

The equivalent sugarcane feedstock cost in November was Pesos 24.3/liter, equating to a sugarcane price of Pesos 1,700.92/mt, down Pesos 101.92/mt month on month.


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