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Commodity and industrial market news — prices, production, trade and regulation — with expert analysis

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| Energy & Fuels

India’s ethanol mandate creates guaranteed demand as capacity outpaces E20 needs

India’s mandatory blending policy has made fuel the country’s largest ethanol market, providing sugar mills and distilleries with government-backed demand. Production capacity now exceeds 20 billion litres a year, compared with about 11 billion litres required for E20, raising concerns about surplus capacity, feedstock pressure and consumer costs.

P
Priya Raghavan
Energy Markets Analyst
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| Agriculture: Crops & Grains

Russia’s record pea harvest pushes prices down 40% as stocks overwhelm demand

Russia’s 5.7 million-tonne pea harvest exceeded domestic and export demand, sending producer prices down 37–40% and leaving stocks in storage. Rising shipments to China and a weaker global crop outlook could help clear the surplus, but carryover stocks, port constraints and the strong ruble will continue to pressure margins.

M
Martin Keller
Senior Agricultural Commodities Analyst
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