Central Government increases FRP of sugarcane to Rs 305 per quintal for FY 2022–2023 season
A premium of Rs 3.05 per quintal has been provided for each 0.1 percent increase in recovery over and above 10.25 percent, while there will be a reduction in FRP by Rs 3.05 per quintal for every 0.1 percent decrease in recovery.
HIGHLIGHTS
- Central Government increases sugarcane FRP to Rs 305 per quintal for 2022–23 season
- CCEA approved sugarcane FRP for sugar marketing year 2022-23 (October-September)
- The cost of production of sugarcane for the 2022-23 marketing year is Rs 162 per quintal
The Cabinet Committee on Economic Affairs (CCEA) has approved the Fair and Remunerative Price (FRP) of sugarcane for sugar marketing year 2022-23 (October-September) at Rs 305 per quintal for a basic recovery rate of 10.25 percent.
A premium of Rs 3.05 per quintal has been provided for each 0.1 percent increase in recovery over and above 10.25 percent, while there will be a reduction in FRP by Rs 3.05 per quintal for every 0.1 percent decrease in recovery.
Aiming to protect the interests of sugarcane farmers, the CCEA has also decided that there would not be any deduction in the case of sugar mills where recovery is below 9.5 percent.
Such farmers are likely to get Rs 282.125 per quintal for sugarcane in 2022-23 as against Rs 275.50 per quintal in the current sugar season 2021-22.
The cost of production of sugarcane for 2022-23 marketing year is Rs 162 per quintal.
“This FRP of Rs 305 per quintal at a recovery rate of 10.25 percent is higher by 88.3 percent over the cost of production, thereby ensuring the promise of giving the farmers a return of more than 50 percent over their cost. The FRP for sugar season 2022-23 is 2.6 percent higher than current sugar season 2021-22,” the government has said in a statement, adding that the Centre has increased FRP by more than 34 percent in past eight years.
News Sources – India Tv News
