Union Cabinet approved the revision of Ethanol Procurement Price for Public Sector Oil Marketing Companies (OMCs)

The Union Cabinet has approved the revision of the Ethanol Procurement Price for Public Sector Oil Marketing Companies (OMCs) under the Ethanol Blended Petrol (EBP) Programme for the Ethanol Supply Year (ESY) 2024-25 (November 2024 - October 2025).

As part of the revision, the administered ex-mill price of ethanol produced from C Heavy Molasses (CHM) has been set at Rs. 57.97 per litre, up from Rs. 56.58.

Significance of the Price Revision:

• Ensures price stability and provides remunerative prices for ethanol suppliers and sugarcane farmers.
• Promotes environmental benefits and guarantees sufficient ethanol supply to meet blending targets.

Ethanol Blended Petrol (EBP) Programme:

• About: This programme mandates OMCs to sell petrol blended with up to 20% ethanol.
• Ministry: Ministry of Petroleum and Natural Gas.
• Objective: The aim is to encourage the use of alternative, environmentally friendly fuels, reduce import dependency, and boost the agricultural sector.
• Revised Target: The ethanol blending target has been advanced to 20% by 2025-26, from the previous target of 2030.

Key Achievements of the EBP:

• Foreign Exchange Savings: The programme has saved approximately Rs. 1.13 lakh crore over the last decade (as of December 31, 2024).
• Increased Blending: Ethanol blending has risen significantly, from 38 crore litres in ESY 2013-14 to 707 crore litres with an average blending rate of 14.60% in ESY 2023-24.

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