The government on Wednesday decided to keep unchanged the minimum price sugar mills pay to sugarcane growers at Rs 275 per quintal for the next marketing year starting October. The decision to maintain the status quo in the Fair and Remunerative Price (FRP) of sugarcane for the 2019-20 marketing year (October-September) was taken in the meeting of the Cabinet Committee on Economic Affairs (CCEA) held here.
It is in line with the recommendation of the Commission of Agricultural Costs and Prices (CACP), a statutory body that advises the government on the pricing policy for major farm produce. "The CACP's recommendation on sugarcane has been accepted by the government. ...This year also farmers will get Rs 275 per quintal for sugarcane," Information and Broadcasting Minister Prakash Javadekar told reporters briefing about the cabinet decisions.
The CCEA has approved the FRP price to be linked with the basic recovery of 10 per cent and a premium of Rs 2.75 per quintal will be given for every 0.1 per cent point increase in recovery rate. Earlier, the FRP price was linked to a basic recovery rate of 9.5 per cent, subject to a premium of Rs 2.68 per quintal for every 0.1 per cent increase in recovery rate.
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