The Centre on Wednesday announced a Rs 10 per quintal hike in sugarcane FRP, which is the minimum price that mills have to pay to sugarcane growers, to Rs 315 per quintal for the 2023-24 season starting October.
The decision to increase the Fair and Remunerative Price (FRP) of sugarcane was taken at the meeting of the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi.
The FRP of sugarcane has been fixed at Rs 315 per quintal for the 2023-24 season, up 3.28 per cent from current 2022-23 marketing year (October-September).
"The Cabinet has increased the FRP of sugarcane to Rs 315 per quintal for 2023-24. Last year, FRP of sugarcane was Rs 305 per quintal," Information and Broadcasting Minister Anurag Thakur told reporters after the cabinet meeting.
The prime minister has always been with "annadata" and the government has given priority to agriculture and the farmers, he said.
The FRP of sugarcane, which stood at Rs 210 per quintal in 2014-15 season, has now been increased to Rs 315 per quintal for 2023-24 season, Thakur added.
In the current 2022-23 marketing year, about 3,353 lakh tonnes of sugarcane worth Rs 1,11,366 crore has been purchased by sugar mills.
During 2013-14, the mills had procured sugarcane worth Rs 57,104 crore.
Thakur highlighted that under the Modi government, there are no protests from cane farmers over pending dues.
According to an official statement, the CCEA has approved the FRP of sugarcane for 2023-24 marketing year at Rs 315 per quintal for a basic recovery rate of
10.25 per cent.