Breaking News

You are here » Indian-Commodity  :  Commodities  :  Sugar  :  Government hikes sugarcane FRP to Rs 255 for 2017-18

25-May2017

Government hikes sugarcane FRP to Rs 255 for 2017-18

The Cabinet Committee on Economic Affairs (CCEA) has hiked the Fair and Remunerative Price (FRP) of sugarcane by Rs 25 per quintal to Rs 255 for 2017-18 season beginning October. This step has been taken in line with the recommendations of the Commission for Agricultural Costs and Prices (CACP), a statutory body that advises the government on the pricing policy for major farm produce. The FRP of sugarcane was kept unchanged at Rs 230 per quintal this year.

The production of sugarcane in the current year declined by over 12% to 306.03 million tonnes due to drought in key growing states Maharashtra and Karnataka. However, the prospects in 2017-18 seem to be bright as the Met Department has forecast normal monsoon.

The FRP is the minimum price that sugarcane farmers are legally guaranteed. However, state governments are free to fix their own state advised price (SAP) and millers can offer any price above the FRP.


Related News

View all news

India's sugar output touches 32.11 MT in October-April: ISMA

The industry body, Indian Sugar Mills Association (ISMA) has said that the country's sugar output reached 32.11 million tonnes (MT) in the first seven months (October-April) of the ongoing marketing year......

Food Ministry moves Cabinet note on creating sugar buffer stock, fixing minimum ex-mill price

In order to help cash-starved millers to clear their cane arrears which have surged to about Rs 22,000 crore, the Food Ministry has moved a draft Cabinet note on creating a sugar buffer stock of 3 million......

India's sugar production stood at 310.37 LT till April: ISMA

India's sugar production stood at 310.37 lakh tons (LT) in the current season till April 30, 2018. As per data compiled by Indian Sugar Mills Association (ISMA), with 130 sugar mills still operating, majorly......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......