OMCs hike procurement price of ethanol produced from C-heavy molasses
In a major relief for sugarcane-based ethanol makers, oil-marketing companies (OMCs) have announced a Rs 6.87 per litre increase in the procurement price of ethanol produced from C-heavy molasses for the 2023-24 season, which started in November — the highest increase in more than five years.
After the increase, the procurement price of ethanol produced from C-heavy molasses would be Rs 56.28 per litre as against Rs 49.41 per litre in the 2022-23 procurement season.
The increase comes weeks after the Centre stopped sugar mills from producing ethanol from sugarcane juice or syrup for the 2023-24 season owing to questions over India’s sugar production.
