How hike in Fair and Remunerative Price for sugarcane will affect farmers and sugar mills | Explained
The story so far: As farmers protest on Delhi borders, the Cabinet Committee on Economic Affairs on Wednesday approved ₹340/quintal as the Fair and Remunerative Price (FRP) of sugarcane for sugar season 2024-25 at 10.25% sugar recovery rate. Affirming its ‘guarantee’ to double farmers’ income, the Centre pointed out that the new FRP was 8% higher than that offered in the current season 2023-24. The new FRP will kick in from October 1, 2024, announced Union Information and Broadcasting Minister Anurag Thakur at a press briefing on February 21.
Hailing his Cabinet’s decision, Prime Minister Narendra Modi said the increase in sugarcane purchase price would benefit crores of farmers.
Source Link:https://www.thehindu.com/news/national/sugarcane-fair-and-remunerative-price-frp-hike-how-does-it-affect-msp-farmers/article67879394.ece
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