19 July,2018 09:38 AM IST | New Delhi | ANI
Representational picture
The Union Cabinet on Wednesday announced Fair and Remunerative Price (FRP) of sugarcane at Rs 275 per quintal. In an official statement, the Centre said the price hike will ensure that farmers avail a return of more than 50 percent over their cost.
'This FRP Rs. 275 per quintal at a recovery rate of 10 percent is higher by 77.42 percent over production cost thereby ensuring the promise of giving the farmers a return of more than 50 percent over their cost,' read the statement.
The cost of production of sugarcane, the government said, is Rs 155 per quintal. The statement also said that the government is pro-farmers and will ensure that farmers get their dues in time.
'The Government through its pro-farmer measures will ensure that sugarcane farmers get their dues in time. Keeping the expected production of sugarcane in the sugar season 2018-19 the total remittance to the sugarcane farmers will be more than Rs. 83,000 crore,' it said.
ALSO READ
Rishikesh-Karnaprayag railway line likely to be functional by Dec 2026: Official
Kamal Haasan's 'Amaran' starring Sai Pallavi & Sivakarthikeyan in legal trouble
Tariff hikes will backfire, China can manage such 'external shocks', senior official says
Alabama carries out nation's third nitrogen gas execution on man for hitchhiker's killing
UK farmers plan to protest at Parliament over tax hike they say will ruin family farms
The FRP would be applicable for the purchase of sugarcane from the farmers by the sugar mills from October 1, 2018. The government also decided there would be no deduction in case of mills where the recovery rate is below 9.5 percent.
The sugar sector affects the livelihood of about five crore sugarcane farmers, and around five lakh workers employed in sugar mills. The government earlier brought a package of Rs 7000 crore for the clearance of farmers' dues. It also decided a minimum price for the sale of sugar at Rs29 per kilogram to help clearance of sugarcane dues of the farmers.
Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
