ISMA appreciates hike in procurement price of ethanol produced from CHM; urges to ban export of molasses

The Indian Sugar & Bio-energy Manufacturers Association (ISMA) praised the Oil Marketing Companies’ decision to raise the procurement price of ethanol produced from C Heavy Molasses (CHM) by Rs 6.87 per liter for the ongoing 2023–24 season. The increased price now stands at Rs 56.28 per liter. While ISMA lauded this increment, the association urged for further increases to aid the industry during uncertain times, ensuring prompt cane price payments, mitigating losses, and boosting ethanol production. ISMA also emphasized the need for a ban on molasses export and anticipated additional price hikes for ethanol produced from B Heavy Molasses and Sugar Cane Juice. The Government aims for a 20% blending of ethanol with petrol by 2025, requiring 1700 crore liters of ethanol-producing capacity to be operational by then, considering an 80% plant efficiency.

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