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.
