 "Govt mulling to increase ethanol price, sugar MSP: Food Minister Joshi")
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The government is considering increasing the ethanol price for 2024-25 season as well as minimum selling price of sugar, Food Minister Pralhad Joshi said on Thursday.
Joshi said the proposal on hiking the ethanol price is under consideration of the government. The petroleum ministry is looking into the matter.
Speaking to reporters on the sidelines of an event here, the minister also mentioned that the government is "considering a proposal to increase the minimum selling price of sugar", which remains unchanged at Rs 31 per kg, a rate established in February 2019.
He also said the sugar production looks good for the 2024-25 season (October-September) on account of good monsoon.
Ethanol prices, fixed by the government, have not been hiked since the 2022-23 ethanol supply year (November-October).
Currently, ethanol produced from cane juice is priced at Rs 65.61/litre, while rates for ethanol from B-Heavy and C-Heavy molasses stand at Rs 60.73/litre and Rs 56.28/litre, respectively.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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