India Hikes Import Duty on Certain Ethanol Imports

India recently raised its import duty on denatured ethanol, from 2.5% to 5%, the U.S. Department of Agriculture Foreign Agricultural Service said in a report released Feb. 24. The move was designed to aid the domestic ethanol production industry, FAS said. The import tax hike, coupled with a recently announced $595.15 million government-allocated budget for the domestic sugar industry, will likely raise demand for domestic molasses and alcohol from grain-based distilleries, USDA said.