The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved a revision in 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, spanning from November 1, 2024, to October 31, 2025. The ex-mill price of ethanol derived from C Heavy Molasses (CHM) has been increased from ₹56.58 per litre to ₹57.97 per litre.
Key Objectives of the EBP Programme:
Promotion of Alternative Fuels: The EBP Programme aims to encourage the use of alternative and environmentally friendly fuels by blending ethanol with petrol up to 20%.
Reduction of Crude Oil Dependence: This initiative seeks to decrease reliance on crude oil imports, thereby conserving foreign exchange and enhancing energy security.
Support for the Agriculture Sector: By utilizing domestically produced ethanol, the programme provides a market for agricultural products, benefiting farmers.
Impact and Achievements:
Over the past decade, as of December 31, 2024, the EBP Programme has led to:
Foreign Exchange Savings: An approximate saving of over ₹1,13,007 crore in foreign exchange.
Crude Oil Substitution: A substitution of about 193 lakh metric tonnes of crude oil.
The recent price adjustment is expected to ensure a stable supply of ethanol, meeting the increased blending targets and furthering the progr
amme's objectives.
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