Govt hikes sugarcane procurement price by Rs 25 to Rs 340 per quintal

The Modi government on Wednesday approved a hike in sugarcane Fair and Remunerative Price (FRP) by Rs 25 to Rs 340 per quintal for 2024-25, Union Information and Broadcasting Minister Anurag Thakur informed.

Making the announcement of government's decision on raising FRP on sugarcane, Anurag Thakur said, "As you know, PM Modi has continuously worked for the welfare of farmers and agricultural development over the past 10 years, today's first decision is also related to CCA. A decision has been made to fix the prices for the upcoming sugarcane season. Cabinet has approved the Fair and Remunerative Price (FRP) of sugarcane payable by sugar factories for sugar season 2024-25 (October-September)."

"...It has been decided to fix the price for the upcoming sugarcane



season, in the period from October 1, 2024, to September 30, 2025, to ensure the fair and reasonable price of sugarcane to the farmers by the sugar mills... It has been decided to fix the price at Rs 340 per quintal for the year 2024-25 as compared to the previous year which was Rs 315, which has increased to Rs 340 per quintal this year..."

"The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi approved the Fair and Remunerative Price (FRP) of sugarcane for Sugar Season 2024-25 at Rs 340/quintal at a sugar recovery rate of 10.25%. This is the historic price of sugarcane which is about 8 per cent higher than the FRP of sugarcane for the current season 2023-24. The revised FRP will be applicable w.e.f. Oct 1, 2024," Cabinet Committee on Economic Affairs (CCEA) said.