Ethanol prices in the international market are seeing a 6-year high at $2 per gallon. The US ethanol inventory is at a 21-week low. US blending demand is at a 13-month high and the Indian markets are taking a lot of cue from that.

For Indian markets, the sugar industry is looking to divert 2 million tonnes for ethanol production.

For India, sugar exports are near the target of around 6 million tonne - this is what the Indian government has mandated and given subsidies for.

CNBC-TV18’s Manisha Gupta has more details. Watch this video for more.

(Edited by : Abhishek Jha)

First Published:Apr 20, 2021 12:30 PM IST