CCEA okays ethanol price hike up to 2.5%

The Cupboard Committee on Economic Affairs (CCEA) has authorized an improve in price of ethanol derived from various sugarcane-based mostly raw materials, which include sugarcane juice and molasses, from the new ethanol internet marketing season setting up December one.

The CCEA, in its meeting on Wednesday, also gave its nod to dedicated price assistance of ₹17,408.85 crore to the Cotton Corporation of India (CCI) for the cotton seasons (October-September) from 2014-15 to 2020-21 and mandated that a hundred for every cent foodgrain and 20 for every cent sugar be packed in jute baggage.

“The price of ethanol from C heavy molasses route be elevated from ₹45.69 for every litre to ₹46.sixty six for every litre. The price of ethanol from B heavy molasses route be elevated from ₹57.61 to ₹59.08.

“The price of ethanol from sugarcane juice, sugar/sugar syrup route be elevated from ₹62.65 to ₹ sixty three.45 for every litre,” in accordance to an official release.

Moreover, GST and transportation costs will also be payable.

Blending programme

The price improve is underneath the Ethanol Blending Programme for the forthcoming sugar season 2021-22 all through Ethanol Supply 12 months 2021-22 from December one, 2021 to November 30, 2022. The acceptance will not only aid delivering price security and remunerative prices for ethanol suppliers, but also help in decreasing the pending arrears of cane farmers, dependency on crude oil imports and in financial savings foreign trade, apart from bringing positive aspects to the surroundings, the release mentioned.

The final decision to permit Oil PSEs to come to a decision the price of 2G ethanol is envisioned to aid setting up advanced bio-fuel refineries in the country.

Support for cotton, jute

Elaborating on the final decision to price assistance to CCI, the statement mentioned in buy to safeguard the interests of cotton farmers, it was expedient to conduct price assistance functions all through 2014-15 to 2020-21 cotton seasons as the natural fibre prices topped the bare minimum assistance price.

“Its implementation boosts the inclusiveness of the cotton farmers in the financial action of the country. Selling price assistance functions help stabilise the cotton prices and ease farmer’s distress,” it mentioned.

Necessary packaging norms for Jute year 2021-22 delivering for a hundred for every cent of foodgrain and 20 for every cent of sugar to be compulsorily packed in jute baggage, was also authorized by the CCEA.

“The reservation norms in existing proposal would further more protect the curiosity of domestic production of raw jute and jute packaging materials in lndia, thereby, earning India self-reliant in consonance with Aatmanirbhar Bharat,” the release mentioned.

Reservation for packaging in jute packaging materials eaten about sixty six.57 for every cent of the raw jute produced in the country (in 2020-21). By bringing into influence the provision of JPM Act, the federal government seeks to deliver aid to .37 million staff used in jute mills and ancillary models as perfectly as assistance the livelihood of about four million farm households.