Tuesday, April 16, 2024

Before Lok Sabha elections, government raise FRP on sugarcane by Rs 25

Before the Lok Sabha elections, the government informed the farmers of good news. For the 2024–25 season, the government decided on Wednesday to raise the sugarcane FRP by Rs. 25 to Rs. 340 per quintal. In October, the new sugarcane season begins. The lowest price that mills are required to pay sugarcane growers is known as the Fair and Remunerative Price, or FRP. Prime Minister Narendra Modi presided over the Cabinet Committee on Economic Affairs (CCEA) meeting where the decision to raise the FRP of sugarcane was made. The largest increase implemented by the Modi government is Rs 25 per quintal.

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Good news for farmers who grow sugarcane 

This action done by the government before the Lok Sabha elections has assisted farmers. Karnataka, Uttar Pradesh, and Maharashtra are the three states where sugarcane is largely farmed. “Keeping in mind the benefits of sugarcane farmers, the Cabinet Committee on Economic Affairs has fixed the Fair and Remunerative Price (FRP) of sugarcane for the sugar season 2024–25 (October–September) at 10.25,” Information and Broadcasting Minister Anurag Thakur told the media. At Rs 340 per quintal, the baseline recovery rate of 100% has been granted.

government FRP: What is it?

The minimal amount that sugar mills are required by law to pay farmers for their sugarcane is known as the Fair and Remunerative amount, or FRP. FRP is determined by the state. The cost of producing sugarcane (labor, fertilizer, irrigation, and machinery costs). Profits from other crops, and changes in the price of agricultural commodities. The availability of sugar to consumers, the cost of producing sugar and profits, etc. are all taken into account. When calculating the FRP. The price per quintal (FRP) for the October–September 2024–25 season is Rs 340. An increase of 8% over the previous year.

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