SPOILER ALERT!
Philippines' Apr residential bioethanol reference price up 3% at 13-month high
The Philippines' domestic bioethanol referral cost for April climbed 3.44% month on month to a 13-month high at Pesos 53.54/ litre ($1,070.80/ cu m), information released Tuesday by the nation's Sugar Regulatory Management showed.
biocides supplier was last greater in February 2017 at Pesos 54.70/ litre, before it fell 22.34% to a five-year low at 42.48/ litre in November 2017.
The residential Negros molasses cost climbed 3.64% month on month in April to a seven-month high at Pesos 7,525.02/ mt, causing a greater equal feedstock expense of Pesos 32.55/ litre. The equivalent sugarcane feedstock expense in April was Pesos 29.95/ litre, equating to a sugarcane cost of Pesos 2,096.22/ mt, up Pesos 173.16/ mt (9%) from March.
The residential Philippines' sugarcane price was buoyed by a boost popular from drink makers on the back of the Tax obligation Reform for Velocity and also Inclusion, or TRAIN, which enforced tax obligations on sweetened beverages from January 1, 2018.
The tax is Pesos 6 (12 cents)/ litre on beverages having calorific or non-calorific sugar and also Pesos 12/liter on beverages consisting of high-fructose corn syrup, or a combination of both. This is expected to lead to an increase in sugar usage at the cost of HFCS, S&P Global Platts Analytics reported.
Major soft drink makers like Pepsi-Cola Products Philippines has announced it will certainly reformulate its mix to 100% sugar from May, from 60% sugar and 40% HFCS earlier, market sources claimed.
The Philippines' April domestic bioethanol rate was up Pesos 4.85/ litre (9.96%) from Pesos 48.69/ liter in April 2017, Platts information showed.
The typical CIF Philippines gas ethanol rate for April was $486.75/ cu m, making the residential price greater than dual that of imported ethanol, Platts information revealed.
The Philippines' domestic bioethanol reference rate is calculated by including transport prices to the average price of two significant feedstocks for ethanol production, molasses and sugarcane.
biocides supplier was last greater in February 2017 at Pesos 54.70/ litre, before it fell 22.34% to a five-year low at 42.48/ litre in November 2017.
The residential Negros molasses cost climbed 3.64% month on month in April to a seven-month high at Pesos 7,525.02/ mt, causing a greater equal feedstock expense of Pesos 32.55/ litre. The equivalent sugarcane feedstock expense in April was Pesos 29.95/ litre, equating to a sugarcane cost of Pesos 2,096.22/ mt, up Pesos 173.16/ mt (9%) from March.
The residential Philippines' sugarcane price was buoyed by a boost popular from drink makers on the back of the Tax obligation Reform for Velocity and also Inclusion, or TRAIN, which enforced tax obligations on sweetened beverages from January 1, 2018.
The tax is Pesos 6 (12 cents)/ litre on beverages having calorific or non-calorific sugar and also Pesos 12/liter on beverages consisting of high-fructose corn syrup, or a combination of both. This is expected to lead to an increase in sugar usage at the cost of HFCS, S&P Global Platts Analytics reported.
Major soft drink makers like Pepsi-Cola Products Philippines has announced it will certainly reformulate its mix to 100% sugar from May, from 60% sugar and 40% HFCS earlier, market sources claimed.
The Philippines' April domestic bioethanol rate was up Pesos 4.85/ litre (9.96%) from Pesos 48.69/ liter in April 2017, Platts information showed.
The typical CIF Philippines gas ethanol rate for April was $486.75/ cu m, making the residential price greater than dual that of imported ethanol, Platts information revealed.
The Philippines' domestic bioethanol reference rate is calculated by including transport prices to the average price of two significant feedstocks for ethanol production, molasses and sugarcane.
