Food and Consumer Affairs Minister Pralhad Joshi announced on Monday that the government will soon decide on whether to raise the minimum selling price (MSP) for sugar.
The current MSP of sugar, set at Rs 31 per kg in February 2019, has remained unchanged. However, industry groups have called for an increase due to rising production costs and financial pressures on sugar mills.
Joshi during an event told reporters that there is a demand. The department is seized of the matter. We will take a decision whether to increase or not shortly, reported PTI.
According to industry sources, even if the government hikes the sugar MSP, it could be increased up to Rs 35.50 per kg.
The Indian Sugar and Bio-Energy Manufacturers Association (ISMA) and the National Federation of Cooperative Sugar Factories (NFCSF) are advocating for an MSP increase, arguing that such a hike is necessary to align with production costs and support the financial stability of sugar mills in India.
For more details and in-depth insights, keep reading ChiniMandi, your go-to source for the latest news on the Sugar and Allied Sectors news.
