Branch² Intelligence
FCI calls media reports of Rs 1,160 crore rice diversion 'factually incorrect'
Key takeaway
FCI denies ₹1,160 crore rice diversion for ethanol, calls reports factually incorrect.
- Step 1FCI denies large-scale rice diversion; FIR registered.
- Step 2Regulatory scrutiny on grain diversion intensifies; ethanol procurement audits likely.
- Step 3Tighter grain allocation controls may reduce availability for ethanol, raising input costs for distilleries.
- Step 4Higher ethanol costs feed into blending economics, potentially impacting oil marketing companies' margins and fuel prices.
Source: Economic Times — Economy
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