In a big relief to the sugar industry in the election year, the Oil Marketing Companies (OMCs) have announced a Rs 6.87 per litre increase in the procurement price for ethanol produced from C Heavy Molasses for the 2023-24 season that started in November. The hike in price will immensely boost the finances of the cane-based ethanol makers.
Indian Sugar & Bio-energy Manufacturers Association (ISMA) has welcomed the decision. In a statement ISMA said, “The industry appreciates the incentive of Rs. 6.87 per litre on supply of ethanol from C Heavy Molasses that takes the price to 56.28/ litre.”
