It was reported that 1.7 million litres of ethanol have piled up at the Pelwatte and Sevanagala distilleries of Lanka Sugar Company (Pvt) Ltd due to the lack of buyers.
According to the Lanka Sugar Company (Pvt) Ltd management, 900,000 litres have accumulated in the Pelwatte distillery while 800,000 litres have piled up at the Sevanagala distillery.
The value of this ethanol stock is about 2,040 million rupees. The Sugar Company sells a litre of ethanol at Rs.1,200.
The buyers have not come forward to purchase ethanol due to the increase in alcohol prices, the increase in transportation costs and the increase in taxes.
Mr. Saman Amarakon, the Chief Operating Officer of the Sugar Company’s Pelwatte Factory, said that the Company generated a large income from the sales of ethanol produced in Pelawatta and Sevanagala distilleries.
He also said that they were planning to reduce the selling price of a litre of ethanol from Rs.1,200 to Rs.1,000 in the future.
