The Indian government may incentivize ethanol production in order to cut the country’s reliance on foreign oil rather than just for environmental reasons. Import duties may also be applied if the incentives encourage increased imports, which already rose 4.7% year over year in the 12 months to May 31 to reach $517 million. The U.S. has been the major supplier to India. U.S. exporters including Raizen and Valero and could benefit from increased exports to India after shipments to Brazil slumped 25.4% year over year in the 12 months to Jun. 30. The latter could yet recover, however, follo...




