OMCs hike procurement prices for ethanol
India’s state fuel retailers have raised procurement prices for ethanol made from C-heavy molasses by 6.87 rupees per litre to 56.28 rupees per litre, according to industry sources and a document reviewed by Reuters on Friday.
The move is aimed at boosting production of ethanol, which is used for blending with petrol. More than 10% of a litre of petrol sold in India is ethanol and the nation has set a target to raise blending to 20% by 2025.
