In a bid to encourage production of ethanol from C-heavy molasses for blending with petrol, public sector oil marketing companies (OMCs) — Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL) — have hiked the procurement price of such ethanol by Rs 6.87 per litre to Rs 56.28 per litre.
With this decision, the government and the OMCs hope to make production of ethanol from C-heavy molasses — a sugar processing byproduct with very low sugar content — an attractive proposition for sugar mills, and discourage the use of the high-sugar feedstocks. Earlier, the sugar industry had reportedly expressed dissatisfaction with the procurement price of C-heavy molasses-based ethanol.
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