The price of sugarcane has been increased by 8 per cent for the 2024-25 financial year and will come into effect from October, the government has said. The hike came amid a huge tussle between the government and farmers over minimum support price. The price of cane will now go up from Rs 315 to Rs 340 a quintal.
Announcing the hike, Union minister Anurag Thakur declared that the government is pro-farmer. “Our government is working for the betterment of farmers and agriculture,” he 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,” he said.
“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,” he added.
The cabinet approval for the cane price hike came this evening during a meeting chaired by Prime Minister Narendra Modi.
The “Fair and Remunerative Price” will ensure prosperity of sugarcane farmers, the government said.
In a statement, the government said it has provided a premium of Rs. 3.32 per quintal for every 0.1 percentage point increase above 10.25% in the recovery.
“It is noteworthy that India is already paying the highest price of sugarcane in the world and despite that, the government is ensuring the world’s cheapest sugar to domestic consumers,” read the statement.
The Centre’s decision will benefit more than 5 crore sugarcane farmers and their families and lakhs of other persons involved in sugar sector, the government said.
“It re-confirms fulfilment of Modi ki Guarantee to double farmers’ income,” the statement added.
