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In Latest Push For Bio Fuels, Modi Government Hikes B-Molasses Ethanol Procurement Price
Ethanol plant (Wikimedia Commons)
The union cabinet has decided to increase the procurement price for ethanol manufactured from B-heavy molasses from Rs 47.13 to Rs 59 per litre in its recent meeting, Business Standard has reported.
Price for ethanol produced by C-heavy molasses has been increased from Rs 43.46 to Rs 59 per litre. This is likely to reduce India’s sugar production by 0.7 to 0.8 million tonnes because of the diversion of raw material.
The ethanol production season is expected to start in December. Industry estimates that 2 to 2.25 billion litres of ethanol may be supplied to oil marketing companies (OMC) next year for its ethanol blending program. The requirement of OMCs is in excess of 3 billion litres. The diversion of sugarcane produce towards ethanol manufacturing is expected to go up in coming years.
Prime Minister Narendra Modi has announced plans to save Rs 12,000 crore by increasing use of bio-fuels in the country on World Bio-fuels day at New Delhi. He had added that bio-fuels would also make the village economy stronger by boosting farm income and creating new jobs. He also added that bio-fuels would be good for the environment.
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