Team Blitz India
NEW DELHI: The Cabinet Committee on Economic Affairs chaired by the PM Narendra Modi on July 29 approved the Fair and Remunerative Price (FRP) of sugarcane for sugar season 2023-24 (October – September) at Rs.315/qtl for a basic recovery rate of 10.25%. It has also been approved to provide a premium of Rs.3.07/qtl for each 0.1% increase in recovery over and above 10.25%, & reduction in FRP by Rs.3.07/qtl for every 0.1% decrease in recovery.
Further, with a view to protect interest of sugarcane farmers, the Government has also decided that there shall not be any deduction in case of sugar mills where recovery is below 9.5%. Such farmers will get Rs.291.975/qtl for sugarcane in ensuing sugar season 2023-24 in place of Rs.282.125/qtl in current sugar season 2022-23.
The cost of production of sugarcane for the sugar season 2023-24 is Rs.157/qtl. This FRP of Rs.315/qtl at a recovery rate of 10.25% is higher by 100.6% over production cost. The FRP for sugar season 2023-24 is 3.28% higher than current sugar season 2022-23.
