New Delhi | Union Cabinet on Wednesday approved higher ex-mill price for ethanol derived from C heavy molasses at Rs 57.97 per litre, up by Rs 1.69, for the 2024-25 period ending October 31 this year.

The prices for ethanol produced from B heavy molasses and from sugarcane juice/ sugar/ sugar syrup were left unchanged at Rs 60.73 per litre and Rs 65.61 per litre, respectively.

Announcing the decision taken by the Cabinet Committee on Economic Affairs, I&B Minister Ashwini Vaishnaw informed that revision of ethanol procurement price for public sector Oil Marketing Companies (OMCs) for the Ethanol Supply Year (ESY) 2024-25 has been approved.

The government has also advanced the target of 20 per cent ethanol blending in petrol to ethanol year 2025-26 from earlier target of 2030.

"As a step in this direction, OMCs plan to achieve 18 per cent blending during the ongoing ESY 2024-25," an official release said.