Dhaka : The Bangladesh government has revised the prices at which it will purchase sugarcane from farmers, raising hopes of encouraging an expansion in the cultivation of the crop nationwide, reports The Daily Star.
Due to not achieving anticipated profits, farmers have been gradually abandoning sugarcane cultivation across the country, resulting in a decline in production. Sugarcane production has declined in last few years, and government is leaving no stone unturned to boost the crop production.
Considering this, the Ministry of Industries has commenced purchasing sugarcane at a price 22 percent higher starting from the harvesting season of the fiscal year 2023-24. This price will be further increased by 9 percent in the subsequent year
The directive for the price revision was issued on August 10 by Afroza Begum Parul, senior assistant secretary to the Bangladesh Sugar and Food Industries Corporation (BSFIC) under the Ministry of Industries, according to media report.
As per the new order, the price for each quintal (100 kilograms) of sugarcane has been adjusted to Tk 550 when farmers bring it to the mill gate, effective from the harvesting season of the fiscal year 2023-24. Previously, it was Tk 450.
For purchases made away from the mill gate, the price has been modified to Tk 540 from Tk 440. From the harvesting season of the fiscal year 2024-25, the prices will be further raised to Tk 600 and Tk 587 respectively. The new sugarcane prices have brought joy among farmers, and it is expected that production will increase across the country, stated Shajahan Ali Badsha, secretary of the Bangladesh Sugarcane Farmers’ Federation. “Farmers have lost interest in sugarcane cultivation over the past few years due to inadequate prices offered for this profitable crop,” he remarked.
“Many farmers have ceased cultivating sugarcane and have turned their fields to crops that yield better profits over the past few years, resulting in a gradual decline in sugarcane supplies to state-owned sugar mills,” Badsha explained.
