Cabinet raised the price of sugarcane-based ethanol and the nutrient-based subsidy rate for P&K fertilisers

The prices of all three types of ethanol that oil marketing companies use to combine with gasoline were increased by the Union cabinet on Wednesday. For the 2022–23 supply season, which will begin in December, there would be an increase of up to Rs 2.75 per litre.

The sugar sector believes that greater investor interest would have been revived if the price of ethanol produced from sugarcane juice and syrup had been higher.

As part of its efforts to give farmers access to inexpensive soil nutrients, the cabinet additionally decided to authorise a subsidy for phosphatic and potassic (P&K) fertilisers for the second half of 2022–2023 in a separate decision. It granted a subsidy of Rs 60,939.23 crore in April of this year for P&K fertilisers for the first half (kharif season) of this fiscal year.

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