News

India: Government imposes 50 pc export duty on molasses to boost supply for ethanol production

Molasses
India
Regulation & Compliances
Market & Price Trends
Published Jan 17, 2024

Tridge summary

The Indian government has imposed a 50 per cent export duty on molasses, a by-product of sugarcane and a key ingredient for ethanol production, in response to a likely decline in sugar production this season. The order will go into effect on January 18, and the government aims to achieve a 15 per cent blending of ethanol with petrol this year, requiring 690 litres of ethanol. Without diversion for ethanol production, the government estimates sugar production to decline to 32.3-33 million tonne in the current season, down from 37.3 million tonne in the previous season.
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, Jan 16 (PTI) The government has imposed 50 per cent export duty on molasses, a by-product of sugarcane and key ingredient for ethanol production, amid likely decline in sugar production in the current season. According to a finance ministry notification, the order will come into force from January 18. In the current year, the government aims to achieve 15 per cent blending of ethanol with petrol for which 690 litres of ethanol would be required. Without diversion for ethanol, the government has estimated sugar production to decline to 32.3-33 million tonne in the ongoing 2023-24 season (October-September) as against 37.3 million tonne in the previous season. India exports molasses to countries including ...
Source: Theprint
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.