No change in price for FCI rice used in ethanol production

The central federal government has saved unchanged the value of rice equipped by the Foods…

The central federal government has saved unchanged the value of rice equipped by the Foods Company of India to make ethanol.

For the ongoing financial year, the value will remain ₹2,000 for each quintal, the Ministry of Consumer Affairs, Foods and Public Distribution explained in a statement on Saturday. The federal government preset this value for the just-concluded financial year, placing the value of ethanol generated from rice readily available with FCI at ₹56.87/litre for the year.

To boost the agricultural financial system and cut down import dependence, the Centre has preset a ten for each cent blending of gas-quality ethanol with petrol by 2022 and 20 for each cent blending by 2025.

Apart from rice, in the present-day sugar time 2020-21, much more than 20 LMT of surplus sugar is estimated to have been diverted for ethanol output. In the earlier three sugar seasons, sugar mills and distilleries generated a profits of about ₹22,000 crore profits from the sale of ethanol to oil promoting businesses, the statement explained.