Ethanol price hiked by up to Rs 1.84
NEW DELHI: In a major boost to the sugar industry, which produces ethanol as a by-product, the cabinet committee on economic affairs (CCEA) approved higher price for the product derived from different raw materials under the Ethanol Blended Petrol (EBP) programme.
Petroleum minister Dharmendra Pradhan said while announcing the decision on Tuesday that oil marketing companies will procure 2.6 billion litres of ethanol in 2019-20 and thereby help reduce India’s energy import dependency. The move is expected to help the sugar industry clear dues of farmers.
The CCEA increased the prices of ethanol from ‘C’ heavy molasses and ‘B’ heavy molasses by 29 paise per litre and Rs 1.84 per litre respectively.
