India Cuts Prices of Ethanol
October 19, 2016http://biofuels-news.com/display_news/11186/india_cuts_ethanol_prices_for_petrol_blending_by_21/
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The Indian government's Cabinet Committee on Economic Affairs (CCEA) has revised the country's ethanol prices for its ethanol blending program. The revision will enable the public sector oil marketing companies (OMCs) to carry out the Ethanol Blended Petrol (EBP) programme.
The revision will set the price of ethanol at 39 Indian rupees per liter from the current Rs 48.5-49.5 range from December 1, 2016 to November 30, 2017. The revision also factors for possible hikes or slumps in petrol retail prices, which will be reflected accordingly in the requirement of maintaining the fixed cost of purchase of ethanol during the ethanol supply year. The CCEA will review and "suitably revise" the prices at any time based on the current economic situation and other factors.
The EBP program was launched in 2003 to promote the use of alternative and environmentally friendly fuels. However, since 2006, OMCs were not able to receive offers for the required quantity of ethanol due to various constraints in supply and pricing.
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