Government decided to hike the Fair and Remunerative Price (FRP) of sugarcane
Team Current Hunt
Government decided to hike the Fair and Remunerative Price (FRP) of sugarcane.
The Union Cabinet has decided to increase the Fair and Remunerative Price (FRP) of sugarcane from Rs 315 per quintal to Rs 340 per quintal for season 2024-25 (October-September).
The FRP for sugarcane is about 8% higher than the FRP of sugarcane for the season 2023-24.
This announcement is significant, especially for Uttar Pradesh and Maharashtra farmers.
This decision was taken by the Cabinet Committee on Economic Affairs.
The FRP of Rs 340 per quintal will be paid at the sugar recovery rate of 10.25 per cent. With each increase of recovery by 0.1 per cent, farmers will get an additional price of Rs 3.32.
This decision will benefit more than 5 crore sugarcane farmers and lakhs of persons involved in the sugar sector.
99.5% cane dues of the previous sugar season 2022-23 and 99.9% of all other sugar seasons have been already paid to farmers.
