E10 Blending Policy to Benefit India
September 4, 2013News article: http://www.moneycontrol.com/news/business/10-ethanol-blending-can-save-rs-9000crfx-shree-renuka_944081.html
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According to the managing director of India's largest sugar refiner and ethanol producer, a mandatory 10 percent ethanol blending policy or E10 will have dual benefits in terms of new market for ethanol and reducing sugar surplus.
The Indian government has proposed that oil marketing companies increase the blend of ethanol with petrol from the current 5 percent to 10 percent. According to the Shree Renuka Sugar executive, the move can reduce the sugar surplus by almost one million to one-and-half million tons and that will be beneficial for the sugar industry.
The proposed blend will also reduce foreign exchange expenditures by $1.3 billion which is currently being used to import crude. Currently the price of imported petrol is around 81 cents per liter, which is the market price that sugar mills are attempting to get from oil marketing companies.
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