India hikes petrol-ethanol blending rate by Rs 2.15
- Ethanol from C heavy molasses has increased from Rs 46.6 to Rs 49.4, while ethanol from B heavy molasses has climbed from Rs 59.08 to Rs 60.73.
- Ethanol is green, carbon-neutral, and boosts cash flows, so Shree Renuka Sugars gambled on it in September.
- Atul Chaturvedi, its executive chairman, said the Indian government requires 10.16 billion litres of ethanol by 2025, but they now have 4 billion.
- For the 2021-22 marketing year, the government raised the price of sugarcane-derived ethanol for petrol blending by Rs 1.47 per litre in November.
- Ethanol-blended fuel will reduce India’s oil import cost and assist sugar cane producers and mills.