News

India increases minimum sugarcane price by 8% for 2024/25

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

Tridge summary

The Indian government has announced an 8% increase in the minimum price sugar mills must pay for sugar cane for the 2024/25 season, starting from October 1. The purchase price has been set at 340 rupees ($4.10) per 100 kg, up from 315 rupees this year. This move is intended to boost production and appease farmers ahead of the general elections, while also ensuring sugar prices remain affordable for consumers.
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

MUMBAI (Reuters) - India will increase the minimum price mills must pay for sugar cane in the 2024/25 season by 8% from Oct. 1, as the world's second-largest sugar producer tries to increase production and please farmers before the general elections later this year. New Delhi has fixed the purchase price of sugarcane at 340 rupees ($4.10) per 100 kg for the next season, up from 315 rupees this year, Information and Broadcasting Minister Anurag Thakur said on Wednesday -fair. The federal government increases the minimum price for sugarcane, also known as the Fair and Remunerative Price (FRP), almost every year. But the state of Uttar Pradesh, the country's largest sugarcane producer, invariably raises the minimum price further due to its millions of sugarcane farmers, an influential bloc of voters. The government intends to increase sugarcane prices to support farmers while at the same time trying to keep ...
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