The Cabinet Committee on Economic Affairs has given its nod to a hike in the Fair and Remunerative Price (FRP) of sugarcane for the upcoming 2024-25 season. The approved price now stands at Rs. 340 per quintal, with a sugar recovery rate set at 10.25%. This adjustment marks an approximate 8% increase compared to the FRP established for the current season.
The government’s decision aims to bolster cane prices, providing crucial support to farmers, while also ensuring that sugar remains affordable for consumers.
This revised FRP is expected to positively impact over 5 crore sugarcane farmers and their families, as well as thousands of others associated with the sugar sector.
Notably, outstanding cane dues from the previous sugar season of 2022-23, along with those from other sugar seasons, have been largely settled, resulting in the lowest cane arrears in the history of the sugar sector.