The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi, on Wednesday, approved the Fair and Remunerative Price (FRP) of sugarcane for Sugar Season 2024-25 at 340 per quintal at sugar recovery rate of 10.25%.

According to the Indian Government press release this “historic” price of sugarcane is about 8% higher than FRP of sugarcane for current season 2023-24. The revised FRP will be applicable from 1 Oct 2024, confirmed Union government. “With this approval, sugar mills will pay FRP of sugarcane @ 340/quintal at recovery of 10.25%. With each increase of recovery by 0.1%, farmers will get additional price of 3.32 while the same amount will be deducted on reduction of recovery by 0.1%. However, 315.10/quintal is the minimum price of sugarcane which is at recovery of 9.5%. Even if sugar recovery is lesser, farmers are assured of FRP at 315.10/quintal.”, the press statement mentioned. The decision comes even as large number of cultivators from Punjab, Haryana are protesting near national capital Delhi border demanding a legal guarantee for Minimum Support Price (MSP). On Wednesday, addressing the media, Union Minister Anurag Thakur said, “It has been decided to fix the price for the upcoming sugarcane season, in the period from October 1, 2024, to September 30, 2025, to ensure the fair and reasonable price of sugarcane to the farmers by the sugar mills. It has been decided to fix the price at 340 per quintal for the year 2024-25 as compared to the previous year which was 315, which has increased to 340 per quintal this year.” Livemint tops charts as the fastest growing news website in the world to know more.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away!