Bioethanol producer shuts down due to cheap imports

The high cost of molasses and stiff competition from imports have forced Philippine-based Leyte Agri Corp. to temporarily stop production of bioethanol. Farmers earn Php400 (US$8.98) more per 50 kilograms if they sell to sugar mills instead of Leyte Agri, said Ruben G. Villanueva, chief operations officer of Leyte Agri. “If we will continue with our production, we would be losing Php45-50 million (US$1.01-1.12 million) per year,” Villanueva said. (January 12, 2011)