Cabinet approves hike in sugarcane procurement price to Rs 340 per quintal
The Cabinet Committee on Economic Affairs on Wednesday approved a hike in the Fair and Remunerative Price (FRP) of sugarcane by Rs 25 to Rs 340 per quintal for 2024-25 season.
The FRP of sugarcane has been hiked from Rs 315 per quintal to Rs 340 per quintal at a basic recovery rate of 10.25 per cent.
The new price is about 8 per cent higher than the FRP of sugarcane for current season 2023-24. The revised FRP will be applicable from October 1.
Fair and Remunerative Price (FRP) is the minimum price that mills have to pay to sugarcane growers.
The Rs 25 per quintal hike is the highest by the Modi government and the move comes ahead of the general elections.
The FRP has been determined on the basis of recommendations of the Commission for Agricultural Costs and Prices (CACP) and after consultation with state governments and other stakeholders.
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