Sugar stocks jump as govt fixes prices for ethanol procurement
Mumbai: Sugar company shares rose after the CCEA fixed ethanol procurement prices, reported the Economic Times. Prices are set at ₹48.50-₹49.50 per litre, varying by distance from the sugar mill to OMC depots: ₹48.50 per litre for up to 100 km, ₹49 per litre for 101-300 km, and ₹49.50 per litre for over 300 km.
Mumbai: Shares of sugar companies rose on Thursday after a news report said the cabinet committee on economic affairs (CCEA) has fixed prices for ethanol procurement.
CCEA approved a proposal to fix the delivered price of ethanol in the range of ₹ 48.50 to ₹ 49.50 per litre depending upon the distance of sugar mill from the depot/installation of the oil marketing companies, according to a report in the Economic Times.
For a distance up to 100km, price is fixed at ₹ 48.50 per litre, for 101-300km, it will be around ₹ 49 per litre and for a distance of more than 300km, price will be around ₹ 49.50 per litre, the report added.
