Govt to soon take decision on increasing MSP for sugar: Pralhad Joshi
India’s government may soon revise the minimum support price (MSP) of sugar, currently set at ₹31/kg since February 2019. Industry bodies, including ISMA and NFCSF, are demanding an increase to ₹39.14-₹42/kg to address rising production costs and help struggling mills. Food and Consumer Affairs Minister Pralhad Joshi confirmed that a decision is expected soon.
Food and Consumer Affairs Minister Pralhad Joshi on Monday said the government will soon take a decision on increasing the minimum support price (MSP) of sugar.
The MSP of sugar remains unchanged at Rs 31 per kg, a rate established in February 2019. However, industry bodies have demanded for an increase due to rising production costs and economic pressures faced by sugar mills.
“There is a demand. The department is seized of the matter. We will take a decision whether to increase or not shortly,” Joshi told reporters on the sidelines of an event here.
Indian Sugar and Bio-Energy Manufacturers Association (ISMA) and National Federation of Cooperative Sugar Factories (NFCSF) are pushing for an increase in the MSP to Rs 39.14 per kg or even Rs 42 per kg to better reflect production costs and support the financial health of sugar mills in India.
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Source : Business Standard
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