ethanol was supposed to be better than sugar. but at current prices sugar makes more margin than ethanol. thats why ISMA is pushing for higher prices. govt is in a fix as they have raised cane prices (cane prices in India are 15% more than Brazil) and so will have to raise ethanol prices. currently price of ethanol is 8 to 10% more than petrol… and inflation is increasing due to fuel !!
Balrampur has a lower % of revenue from ethanol compared to other sugar companies so ethanol leading to better valuation doesnt hold good. even then it is getting higher valuation… because their recovery has improved and sugar prices are high.
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