Business

CCEA approves higher prices for ethanol

ANI | September 03, 2019 04:28 PM
Petroleum and Natural Gas Minister Dharmendra Pradhan

New Delhi [India], Sept 3 (ANI): As part of the Central government's efforts to raise the level of ethanol blending in fuels, the Cabinet Committee on Economic Affairs (CCEA) on Tuesday approved higher price for ethanol derived from different raw materials under the Ethanol Blended Petrol (EBP) Programme for the forthcoming sugar season 2019-20.

Briefing reporters about the CCEA decision, Petroleum and Natural Gas Minister Dharmendra Pradhan said the price of ethanol from "C heavy molasses route" has been increased from Rs 43.46 per litre to Rs 43.75 per litre.

He said the price of ethanol from "B heavy molasses route" has been increased from Rs 52.43 per litre to Rs 54.27 per litre.

Pradhan said the price of ethanol from "sugarcane juice/sugar/sugar syrup route" has been fixed at Rs 59.48 per litre.

He said the oil marketing companies have been advised to continue giving priority to ethanol sourced from sugarcane juice, sugar and sugar syrup followed by B heavy molasses, C heavy molasses, and damaged food grains and other sources.

The minister said that remunerative price to ethanol suppliers will help in reducing arrears of cane farmers and reducing their difficulties.

The minister said that against the target of 5 per cent blending, about 1.5 per cent blending was being carried out when the BJP-led government came to power in 2014.

He said the level of blending has gone up to 6.20 per cent and the target is to reach 10 per cent level by 2021-22 to reduce India's import dependency.

He said the steps taken by the government will result in saving US dollar one billion of oil imports and reducing crude import by two million metric tonnes.

An official release said that the revised prices will be applicable for "ethanol supply year" from December 1, 2019, to November 30, 2020. (ANI)

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