Oil Marketing Companies (OMCs) declared an additional incentive of ₹5.79 per litre (excluding GST) for ethanol derived from maize. The increment will increase the cost of maize-sourced ethanol up from ₹66.07 per litre to ₹71.86 per litre.
The revised incentivised pricing is applicable to all ethanol acquisitions made by the oil marketing companies starting from January 5, 2024, and will remain in effect throughout the ethanol supply year (ESY) 2023-24.
The incentive aims to significantly enhance the production of ethanol derived from maize. The petroleum ministry revealed that the count of ethanol-blended fuel E20 stations in India has surpassed 9,300. As reported by ZEEBUSINESS, the government is confident about completion of commitments on ethanol projects by 2025.
