News

Govt allows Nafed, NCCF to sell maize to ethanol makers at base rate of Rs 2,291/quintal

Maize (Corn)
India
Regulation & Compliances
Market & Price Trends
Published Feb 22, 2024

Tridge summary

The Indian government has allowed cooperatives Nafed and NCCF to sell maize to distilleries at a base price of Rs 2,291 per quintal to ensure a consistent supply for ethanol production. The cooperatives will buy maize at a minimum support price of Rs 2,090 per quintal for the 2023-24 crop year. This initiative is part of the government's strategy to promote maize as an alternative to sugar for ethanol production. Additionally, oil marketing companies have raised the procurement price of ethanol derived from maize to encourage its production.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

New Delhi: To ensure uninterrupted supply of maize for ethanol makers, the government has allowed cooperatives Nafed and NCCF to sell maize at a base price of Rs 2,291 per quintal to distilleries this year. Nafed and National Cooperative Consumers Federation of India (NCCF) will procure maize at a minimum support price of Rs 2,090 per quintal in the 2023-24 crop year and supply to the distilleries at a mutually agreed rate of Rs 2,291 per quintal, a senior food ministry official told PTI. The move aims to ensure distilleries get uninterrupted supply of the feedstock for ethanol production, the official said. The country's maize production is pegged at 22.48 million tonnes for the 2023-24 crop year (July-June), as per the first advance estimate of the agriculture ministry. The government is promoting the use of maize as an alternative to sugar to increase ethanol production and ensure sufficient supply of the sweetener in the market. In December last year, the government directed ...
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