The government is likely to announce a increase in the sugarcane procurement price (FRP) to ₹340/quintal from the existing ₹315/quintal, aiming to provide relief to sugarcane farmers ahead of the upcoming elections, reported CNBC-Awaaz.
The adjustment in procurement price will specifically apply to crops with a recovery rate of 10.25. The Cabinet Committee on Economic Affairs (CCEA) is scheduled to convene to deliberate on this matter.
The revised prices expected to be applicable for the upcoming sugar season of 2024-25. In the ongoing sugar season of 2023-24, the government had previously raised the FRP by ₹10 per quintal, elevating the sugarcane purchase price from ₹305/quintal to ₹315/quintal.
The FRP serves as the minimum price mandated for procuring sugarcane from farmers.
