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May 21, 2024
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“Significant Hike: Central Govt raises minimum price of Sugarcane to Rs 315 per Quintal”

NEW DELHI: In a significant development for sugarcane farmers, the Central Government announced on Wednesday an increase in the Fair and Remunerative Price (FRP) of sugarcane by Rs 10, setting it at Rs 315 per quintal for the upcoming 2023-24 season. The FRP represents the minimum price that sugar mills are obligated to pay to sugarcane farmers. The sugarcane season typically commences in October.

Anurag Thakur, the Minister of Information and Broadcasting, shared that the decision to raise the minimum price of sugarcane was made by the Cabinet Committee on Economic Affairs. The new FRP of Rs 315 per quintal will be applicable for the 2023-24 season.

Comparing the latest increase with the previous season, where the minimum price was Rs 305 per quintal, Thakur highlighted that the Prime Minister has always stood with the Annadata (food provider). The government has consistently prioritized agriculture and the welfare of farmers. Thakur emphasized that the minimum price of sugarcane has witnessed substantial growth, rising from Rs 210 per quintal in 2014-15 to Rs 315 per quintal for the upcoming season.

Alongside the FRP revision for sugarcane, the Cabinet Committee on Economic Affairs (CCEA) also announced a urea subsidy of Rs 368,676.7 crore for the next three years, covering the period from 2022-23 to 2024-25. Additionally, an allocation of Rs 1,451 crore has been approved for Market Development Assistance (MDA).

The increase in the FRP of sugarcane and the provision of subsidies reflect the government’s commitment to supporting agricultural growth and ensuring the welfare of farmers. These measures aim to provide fair compensation to sugarcane farmers and promote sustainable agriculture in the country.

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