Cupboard approves enhance in sugarcane FRP to ₹315/quintal for 2023-24 season

New Delhi: The Cupboard Committee on Financial Affairs, chaired by Prime Minister Narendra Modi, on Wednesday accepted a 10-rupee enhance in truthful and remunerative worth (FRP) of sugarcane to 315 per quintal for the 2023-24 advertising and marketing season, beginning October. 

The prime minister has all the time been with the “annadata”. The federal government has given precedence to agriculture and the farmers, Info and Broadcasting Minister Anurag Thakur instructed reporters after the Cupboard assembly.

The FRP of sugarcane, which stood at 210 per quintal in 2014-15 season, has now been elevated to 315 per quintal for 2023-24 season, Thakur added.

In Could, the Fee for Agricultural Prices and Costs (CACP) really useful the FRP for a primary restoration price of 10.25%.

Greater the restoration, the upper would be the cane worth. The restoration price is the quantum of sugar produced from sugarcane.

“Additional, with a view to guard curiosity of sugarcane farmers, authorities has additionally determined that there shall not be any deduction in case of sugar mills the place restoration is under 9.5 per cent. Such farmers will get 291.975 per quintal for sugarcane in ensuing sugar season 2023-24 instead of 282.125 per quintal in present sugar season 2022-23,” in accordance with an official assertion.

The choice on FRP is essential within the run-up to Lok Sabha elections, scheduled for 2024. The sugar sector is a vital agro-based sector that impacts the livelihood of about 5 crore sugarcane farmers and their dependents and round 5 lakh staff straight employed in sugar mills, other than these employed in varied ancillary actions together with farm labour and transportation, as per the assertion.

Within the present 2022-23 advertising and marketing 12 months, about 3,353 lakh tonne of sugarcane value 1.11 trillion has been bought by sugar mills.

Additionally, at a time when the federal government is making an attempt to extend ethanol mixing to fifteen% subsequent season, farmers have to be inspired in order that they don’t decrease the sugarcane acreage.

Sugar output is estimated to have fallen within the present season (October-­September) to 32.8 million tonne from 35.76 million tonne in 2021-22, as per the Indian Sugar Mills Affiliation (ISMA).

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Up to date: 28 Jun 2023, 04:52 PM IST