The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi on Wednesday approved the Fair and Remunerative Price (FRP) of sugarcane for Sugar Season 2024-25 at Rs 340 per quintal at sugar recovery rate of 10.25.
This decision is expected to benefit more than 5 crore sugarcane farmers including their families and others involved in the sugar sector.
Briefing reporters after a meeting of the union cabinet, Information and Broadcasting Minister Anurag Thakur said this is a historic price of sugarcane which is about 8 per cent higher than FRP of sugarcane for the current season 2023-24. The revised FRP will be applicable with effect from October 1, 2024.
“India is already paying the highest price of sugarcane in the world. It is at 107 per cent higher than A2+FL cost of sugarcane,” Thakur said, adding that the new FRP will ensure prosperity of sugarcane farmers. He said it re-confirms the fulfilment of the Modi government’s guarantee to double farmers’ income
