Government Greenlights 8% Hike In Sugarcane Procurement Price Amid Farmers' Protest
The government's decision coincides with ongoing farmer protests, primarily led by farmers from Punjab, near the borders of Haryana and Delhi, demanding a legal guarantee for MSP across all crops.
In the midst of farmer protests seeking a legal guarantee for Minimum Support Price (MSP), the Union Cabinet granted approval on Wednesday for an increase in the fair remunerative price of sugarcane to Rs 340 per quintal.
"The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri Narendra Modi approved the Fair and Remunerative Price (FRP) of sugarcane for Sugar Season 2024-25 at ₹ 340/quintal at sugar recovery rate of 10.25%. This is historic price of sugarcane which is about 8% higher than FRP of sugarcane for current season 2023-24. The revised FRP will be applicable w.e.f. 01 Oct 2024," stated a government release.
Union Minister Anurag Thakur, addressing the media, said, "It has been decided to fix the price for the upcoming sugarcane season, in the period from October 1, 2024, to September 30, 2025, to ensure the fair and reasonable price of sugarcane to the farmers by the sugar mills. It has been decided to fix the price at Rs 340 per quintal for the year 2024-25 as compared to the previous year which was Rs 315, which has increased to Rs 340 per quintal this year."
#WATCH | Union Minister Anurag Thakur says "...It has been decided to fix the price for the upcoming sugarcane season, in the period from October 1, 2024, to September 30, 2025, to ensure the fair and reasonable price of sugarcane to the farmers by the sugar mills...It has been… pic.twitter.com/3QRlh4e2gd
— ANI (@ANI) February 21, 2024
"India is paying the highest price for sugarcane in the world and even this year Modi govt has decided to give a hike of 8%. This is in the interest of the farmers, this is our commitment towards farmers' income, at least cost + 50% profit, but here if you look, it is close to 107%, even though the price of fertilisers has increased across the world, we didn't let it affect our farmers, we gave subsidy up to Rs 3 lakh crore, we brought Nano Urea during UPA's 10 years, on wheat, paddy pulses, oilseeds, Rs 5.5 lakh crore was spent during the procurement of MSP, Modi govt spent Rs 18 lakh 39 crore," he said further.
#WATCH | Union Minister Anurag Thakur says, " India is paying the highest price for sugarcane in the world and even this year Modi govt has taken a decision to give a hike of 8%, which means increase from Rs 315 to Rs 340 per quintal. This is in the interest of the farmers, this… pic.twitter.com/5lEHo9AtDY
— ANI (@ANI) February 21, 2024
It is to be noted that the FRP serves as a minimum support price for sugarcane growers, ensuring a fair and consistent income from their crops.
"In last 10 years, Modi Sarkar has ensured that farmers get the Right Price of their Crops at the Right Time. 99.5% of cane dues of the previous sugar season 2022-23 and 99.9% of all other sugar seasons are already paid to farmers leading to the lowest cane arrears pending in history of the sugar sector. With timely policy interventions by the Government, sugar mills have become self-sustainable and no financial assistance has been given to them by the Government since SS 2021-22. Still, the Central Government has ensured ‘Assured FRP and Assured Procurement’ of sugarcane to farmers," the statement issued by the government said.
The government's decision coincides with ongoing farmer protests, primarily led by farmers from Punjab, near the borders of Haryana and Delhi, demanding a legal guarantee for MSP across all crops.
Despite fresh discussions between the government and farmers' representatives, the talks yielded no concrete results.
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