News

Cabinet increases FRP for sugarcane to Rs 340/qtl, gives boost to women safety, space sector and National Livestock Mission

Sugarcane
Regulation & Compliances
Market & Price Trends
Published Feb 22, 2024

Tridge summary

The Union cabinet has approved an increase in fair and remunerative prices for sugarcane to Rs 340 per quintal, a rise of Rs 25. Changes to the National Livestock Mission were also approved, including the introduction of entrepreneurship for horse, donkey, mule, and camel with a 50% capital subsidy. The Livestock Insurance program has been simplified and the premium share for farmers reduced. Additionally, the cabinet approved the continuation of the 'Safety of Women' scheme, costing Rs 1179.72 crore from 2021-22 to 2025-26. This includes several projects aimed at improving the response to and prevention of crimes against women.
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

Union cabinet decided to increase fair and remunerative prices for sugarcane for the next season by Rs 25 to Rs 340 per quintal, from Rs 315 earlier, said Anurag Thakur while addressing media on Wednesday.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, said Thakur.FRPs for sugarcane are typically fixed to ensure a guaranteed price to sugarcane growers and thus it does not take into account whether sugar mills will generate profit or stay in the red. Analysts opine that higher FRPs generally hurt the margins of the sugar mills. The FRP of sugarcane is fixed to ensure a guaranteed price to sugarcane growers. According to a 2022 ...
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