Indian Sugar Mills Association welcomes rise in ethanol prices for 2019-20

Indian Sugar Mills Association welcomes rise in ethanol prices for 2019-20 - price of sugar

Source: https://economictimes.indiatimes.com


Indian Sugar Mills Association said that the industry is investing in ethanol capacities.

PUNE: Industry body Indian Sugar Mills Association (ISMA) has welcomed central government’s decision today to increase ethanol prices for 2019-20.

Avinash Verma, director general, Indian Sugar Mills Association (ISMA) said, “Government’s decision to increase ethanol price once again, with special emphasis and a higher increase for ethanol made from B-heavy molasses, confirms the Government’s commitment towards encouraging more diversion of the surplus sugarcane/sugar into ethanol. The second very important decision of allowing a single premium price for the ethanol made from partial or 100% sugarcane juice is another big and positive step in this direction. These decisions will help in further increasing the ethanol blend levels from the current 6% average levels across the country.”

ISMA said that the industry is investing in ethanol capacities. “The industry is responding very positively by hugely investing in new or expansion of ethanol production capacities, which will ensure that we will achieve the Government’s 10% ethanol blend targets almost certainly by 2022. Overall another excellent and very positive policy decision by the Government to encourage more production of the green bio-fuel and at the same time reducing some of the surplus sugar as also helping in more timely payment to our cane farmers.”

Pramod Chaudhari, executive chairman, Praj Industries India said, “The decision to increase ethanol price is an encouraging development for the farming community as well as industry. Higher price for ethanol will not only help in dealing the problem of heavy sugar stock but also result in reduction crude oil imports due to improved ethanol blending rate.”