‘Biofuels alliance could help 700K farmers, clean the air’
NEW DELHI : The recently launched Global Biofuels Alliance will work on the definition and specification of biofuels, and also increase international cooperation through a virtual marketplace, said Union petroleum & natural gas minister Hardeep Singh Puri. The alliance was launched on 9 September with 19 countries and 12 international organizations agreeing to join. In an interview, Puri said India would increase its production of biofuels going ahead.
On the likelihood of a reduction in petrol and diesel prices, the minister said retail fuel prices depend on several factors including the cost of fuel, freight and insurance. He reiterated that non-BJP state governments have not yet lowered value added tax, while the Centre has lowered the excise duty twice in the last two years. Edited excerpts: In 2018 India banned trading of biofuels.
Will the restriction be lifted as the biofuels alliance has been launched? What the biofuels alliance will do, it will first of all have a definition. If a biofuel is sustainable, if it’s green then you would have to get your definition on that. You’ll have to deal with issues like technical standards, you’ll have to deal with which specification, testing, the whole gamut of issues.
What would you have traded in 2018. The ethanol production which started in 2005-06, reached 1.5% in 2014. The total ethanol production and procurement was 380 million litres.
Out of 380 million how much one would sell? In 2014, you set a target of 8 years for 10% blending. Today, you have reached 12%, you are procuring 5.62 billion litres of ethanol and 1 billion litres of biodiesel. It totals 6.62 billion litres.
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