Sugar mills seek tripartite agreement with commercial banks and OMC’s to boost ethanol production

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New Delhi: Centre has urged the mills for diversion of excess sugarcane and sugar for the production of fuel Ethanol as a long term solution for addressing the problem of excess sugar stock. According to the ISMA, “It is already well accepted by us, as augmentation in Ethanol capacity for the upcoming years is at different stages of progress/implementation. But, we believe that the three stakeholders i.e. sugar mills, OMC’s and commercial banks should enter into a tripartite agreement for optimum utilization of the policies and incentives to increase the production of Ethanol in coming years.”

With a view to encourage sugar mills to divert excess sugarcane to produce ethanol for blending with petrol, the Government has also allowed production of ethanol from B-heavy molasses, sugarcane juice, sugar syrup and sugar and has fixed the remunerative ex-mill price of ethanol derived from C-heavy molasses @ Rs.43.75/- litre, from B heavy molasses @ Rs.54.27/litre and Rs.59.48/litre for ethanol derived from sugarcane juice/sugar/sugar syrup for ethanol season 2019-2020 (December to November).

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