Argentina's energy ministry said Monday it has authorized a 5% increase in ethanol prices for oil refiners to blend into gasoline in January.
Refiners must pay Peso 10.324/liter ($0.74/liter) for supplies of sugarcane-derived ethanol this month to meet a 10% blend requirement in gasoline, the ministry said.
Corn-based ethanol prices were also raised 5% to Peso 8.020/liter in January, it said.
The ministry has said it will limit price fluctuations to 5%/month.
Ethanol production in September rose 22.6% year on year to 73,144 mt, while consumption rose 27.5% to 66,908 mt, according to latest energy ministry data.
