The Union Cabinet raised ethanol prices derived from C-heavy molasses, B-heavy molasses & sugarcane juice by Rs 2.75 / litre, Rs 1.65 / litre & Rs 2.16 /litre, respectively. OMCs are expected increase ethanol blending to 12% with petrol in 2022-23 (December to November)
The increase in ethanol prices by ~Rs 2/litre is on expected lines. We believe this increase would encourage millers to divert more sugarcane towards ethanol, which would help in sacrificing sugar to the tune of 4.5 – 5.0 million tonnes in 2022-23 sugar season
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