Govt hikes sugarcane price by Rs.20 per quintal

The government yesterday increased fair and remunerative price, FRP, of  sugarcane by 20 rupees per quintal to 275 rupees for the next marketing year starting October. The Cabinet Committee on Economic Affairs approved the FRP for 2018-19 sugar season payable by sugar mills at 275 rupees per quintal for a basic recovery rate of 10 per cent for sugar. 

The decision was taken at a Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi. Briefing reporters after the



Cabinet meeting, Union Minister Ravi shankar Prasad said, the total remittance to the sugarcane farmers will be more than 83000 crore rupees keeping the expected production of sugarcane in the sugar season 2018-19. 

He said, there will not be any deduction in case of mills where recovery is below 9.5 per cent. Such farmers will get 261.25 rupees per quintal for sugarcane in place of 255 rupees per quintal in the current season.