Fitch ratings sees positive outlook for Indian ethanol
Monday February 08 2010
Rising consumption of ethanol in India will protect the country's sugar mills from a slide in earnings expected next year when prices of the sweetener go into reverse, Fitch has said, reports Agrimoney.
Sugar groups look poised to be crushed in 2011 by a fall in the price of the sugar they sell, a drop fostered by "better visibility of cane output and a declining supply deficit", at a time of resilient cane costs, the ratings agency said in an industry briefing.
