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Cabinet approves hike in sugarcane FRP by Rs 25 to Rs 340 per quintal for 2024-25 season in India

Sugarcane
Published Feb 22, 2024

Tridge summary

The Indian government has raised the minimum price sugar mills must pay to sugarcane farmers by Rs 25 to Rs 340 per quintal for the 2024-25 season, marking the highest Fair and Remunerative Price (FRP) for sugarcane since 2014. The decision, made by the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi, ensures the new FRP is 107% higher than the A2+FL cost of sugarcane, promoting prosperity for farmers. The revised FRP will come into effect from October 1, 2024.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The government on Wednesday decided to hike the minimum price that mills have to pay to sugarcane growers by Rs 25 to Rs 340 per quintal for the 2024-25 season starting October. This is the highest Fair and Remunerative Price (FRP) for sugarcane announced by the Prime Minister Narendra Modi-led government since coming to power in 2014. In terms of quantum, this is the second time that the Modi government has increased the FRP by Rs. 25 per quintal in one go. The decision to increase the FRP was taken at the meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi. It also comes ahead of the general elections. Sugarcane is grown mainly in Maharashtra, Uttar Pradesh, and Karnataka. The CCEA approved the FRP of sugarcane for 2024-25 at Rs 340 per quintal at sugar recovery rate of 10.25 per cent, Information and Broadcasting Minister Anurag Thakur told reporters here. This is a historic price of sugarcane which is about 8 per cent higher than ...
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