The Coronavirus has caught 122 countries around the world. The decreasing price of crude due to the worldwide outbreak of Coronavirus has increased the difficulties of sugar mills producing ethanol. Domestic oil companies have reduced ethanol blends in petrol. Due to this, the purchase of ethanol has come to a standstill. Its impact is very bad on sugar mills.
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Due to lack of demand for ethanol despite production due to nationwide crisis, it has become a big challenge for sugar mills to stock it. The situation may worsen due to the mills not having ethanol storage facilities like this. While mills have increased investment to increase ethanol production here.
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Oil companies have been given a target to add up to 10 percent ethanol in petrol. Due to the lockdown, the demand for ethanol in oil companies has remained negligible due to the steep decline in demand for petrol in the country. The Indian Sugar Mills Association (ISMA) has demanded oil companies to buy ethanol and keep it in their depots, so that the storage problem of mills can be resolved.
