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India's lowest monsoon rainfall in over a decade has cut corn and sugarcane output, prompting New Delhi to prioritise food over ethanol. Industry insiders say the ethanol share in petrol may fall below the 20% target in the supply year that began this month, perhaps to around 15%.
Corn and sugar prices have risen about 40% to record highs and rice has climbed 20%.
Tighter feedstock supply for ethanol pushes up corn and rice prices in India and reduces ethanol demand for grains, while India's food inflation accelerates. Feed buyers face higher Indian grain costs and more import reliance on crude.
sa.marketscreener.comReutersNov 4, 2026After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 179 past bullish weather events, Rough Rice moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.5%), and +2.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
