Uttar Pradesh likely to increase the price of sugarcane: Sources
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According to sources the announcement is likely to be made today. Additionally the expected price jump of SAP is likely to be a jump of Rs 25 per quintal for season 2023-2024.
This development will keep shares of sugar companies like Balrampur Chini Ltd., Dhampur Sugar Ltd., Dalmia Bharat Sugar, Mawana Sugars and Dwarikesh Sugar.
According to a notification issued by the cane development department on February 17, the SAP for the general variety of cane stands at Rs 340 per quintal while the procurement price for early and late maturing variety has been fixed at Rs 350 and Rs 335 per quintal, respectively.
The state government had last revised the SAP in September 2021, months ahead of the 2022 UP assembly elections.
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