The central government on Wednesday hiked sugarcane Fair and Remunerative Price (FRP) by Rs 10/quintal to Rs 315/qtl for the 2023-24 season for a basic recovery rate of 10.25 per cent.
It has also been approved to provide a premium of Rs.3.07/qtl for each 0.1% increase in recovery over and above 10.25%, & reduction in FRP by Rs.3.07/qtl for every 0.1% decrease in recovery.
Further, with a view to protect interest of sugarcane farmers, government has also decided that there shall not be any deduction in case of sugar mills where recovery is below 9.5%. Such farmers will get Rs.291.975/qtl for sugarcane in ensuing sugar season 2023-24 in place of Rs.282.125/qtl in current sugar season 2022-23.
#WATCH | Delhi: The cabinet has approved the highest ever Fair and Remunerative Price of Rs.315/qtl for Sugarcane Farmers for sugar season 2023-24. The decision to benefit 5 crore sugarcane farmers and their dependents, as well as 5 lakh workers employed in the sugar mills and… pic.twitter.com/mW5RgQZIl9
— ANI (@ANI) June 28, 2023
I&B Minister Anurag Thakur while announcing the hike said, “The cabinet has approved the highest ever Fair and Remunerative Price of Rs.315/qtl for Sugarcane Farmers for sugar season 2023-24. The decision to benefit 5 crore sugarcane farmers and their dependents, as well as 5 lakh workers employed in the sugar mills and related ancillary activities.”
Below chart shows hike in sugarcane FRP from season 2013-24 to season 2023-24
