India's ethanol program will cap future sugar exports, says research rm BMI

NEW DELHI: India, the world's second-largest sugar producer and a major exporter in recent years, will likely have a smaller role in the sugar export market going forward as its government-led ethanol program continues to expand, as per a report namedAsiaBiofuelOutlookbyresearch firm BMI, a unit of Fitch Solutions, onMonday.

The report said that India's pursuit of increased ethanol blending in gasoline,asawaytocuttheoilproducts' import bill and reduce carbon emissions, will continue to support globalsugarprices.

BMI says that there is currently a fastdevelopmentofadditionalcapacity to produce ethanol in India, where biofuel is made mainly from sugarcane.

As more ethanol plants start production, more of the country's sugarcane crop will be used to make the fuel, limiting the amount of sugar that willbeproduced.

According to the U.S. Department of Agriculture (USDA), India's ethanol blending has reached 11.5 per cent, while the country's government target istoreach20percentby2025.

The report said that although it is "doubtful" that India will be able to achieve that by 2025, the program will cap exports of feedstocks used in ethanolproduction.

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