New Delhi: India’s union cabinet on Wednesday approved raising the price at which oil marketing companies will buy ethanol from sugar mills by 25%, television channel CNBC TV18 said. The ethanol price hike will help sugar mills, saddled with massive mounds of the sweetener, divert cane juice for ethanol production. Earlier, the government had fixed the price for ethanol produced from sugar cane juice at 47.5 rupees a litre.