Nepal: Agriculture Ministry provides Rs 800 million in subsidy to sugarcane farmers

KATHMANDU, Dec 24: The Ministry of Agriculture and Livestock Development has disbursed Rs 800 million in subsidies to sugarcane farmers. Out of the total amount earmarked for disbursement in the last Fiscal Year (FY) 2022/23, which amounted to Rs 1.32 billion, the aforementioned sum has been paid in the current FY. Shavanam Sivakoti, Joint Secretary and Spokesperson for the Ministry, stated that the disbursement will be credited to the farmers' accounts based on the available details after release in the respective districts. Cabinet has granted approval for additional funds to settle the remaining Rs 520 million in arrears. To safeguard sugarcane farmers and foster agricultural businesses, the government annually determines a minimum purchase price for sugarcane. For the current year, the minimum purchase price has been set at Rs 565 per quintal, with the Nepalese government providing a subsidy of Rs 70 per quintal. The Agriculture Department proposed the price determination ...