The Philippines domestic bioethanol reference price dropped 5.23% on the month to Pesos 55.07/liter, which is equivalent to $1,101.40/cu m, in September, data released Tuesday by the Sugar Regulatory Administration showed. This was the first monthly drop in domestic ethanol prices in over nine months, the data showed. Domestic ethanol prices last dropped in November 2017, when it fell 10.61% on the month to Pesos 42.48/liter.
The domestic ethanol reference price in September is, however, up 12.92% year on year. In the feedstock market, Negros molasses fell 2.87% from August to Pesos 8,020/mt in September, resulting in a lower equivalent feedstock cost of Pesos 34.57/liter.