Indian state fuel retailers have agreed to provide monetary relief to sugar mills and other producers of ethanol to compensate for high energy costs to boost biofuel production, according to a letter written by the companies to manufacturers. India, the world's third biggest oil importer and consumer, has expedited efforts to double ethanol blending with gasoline to 20% from the current 10% across the country from 2025/26. The Indian government fixes the ethanol purchase prices for fuel retailers - Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp -- every marketing year.
When consumed in moderation, sugar is not bad for us, and humans’ ability to detect sweetness is etched into our DNA, but with the abundance of it in today’s food and drinks, we are getting more than we should. Food tech startup Joywell Foods has been in this sector for nearly a decade, building up a sweet proteins platform and is nearing the commercialization of its first products, boosted by a cash infusion of $25 million in Series B funding. The round was led by Piva Capital, with participation from B37 Ventures, Global Brain Corporation and existing investors Khosla Ventures, Evolv Ventures, SOSV's IndieBio and Alumni Ventures.
India sugar prices are likely to remain firm despite New Delhi's move to cap exports as stockpiles are set to fall to the lowest level in five years amid record shipments and robust local demand, industry officials told Reuters. Higher local prices will keep margins intact of sugar makers such as Balrampur Chini, Shree Renuka Sugars, Dalmia Bharat Sugar and Dwarikesh Sugar and help them in making cane payments on time to farmers. India on Tuesday imposed restrictions on sugar exports for the first time in six years by capping this season's shipments at a record 10 million tonnes, up from last year's 7.2 million tonnes.