Ecuador: Ecuador Decree Encourages Expanded Biofuel Production

  |   Attaché Report (GAIN)

On May 13, 2015, Ecuador President Rafael Correa signed Executive Decree 675. The decree doubles to ten percent the ethanol blend rate in Ecuadorian regular grade (87-octane) gasoline. The decree establishes that the price of a liter of ethanol is no longer pegged to raw sugar prices as set by the Intercontinental Exchange (ICE) in New York. Rather prices are calculated as a function of the average market price of ethanol along the U.S. Gulf Coast. For blended fuels to account for 45 percent of the market by 2017, Ecuador will need to plant an additional 30,000 hectares of sugarcane.

Ecuador: Ecuador Decree Encourages Expanded Biofuel Production

Western Hemisphere, Ecuador
Biofuels

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