Sugar price rise 'inevitable' due to sugarcane FRP hike: NFCSF
The Dollar Business Bureau With an 11% hike in the fair and remunerative price (FRP) of sugarcane, there could be a rise in the retail prices of sugar, industry body National Federation of Cooperative Sugar Factories (NFCSF) said. As per official data presently sugar’s retail prices are at Rs 40-45 per kg. In its public release on Wednesday the government stated that “The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for fixing the Fair and Remunerative Price (FRP) of sugarcane at Rs. 255/- per quintal (qt) for sugar season 2017-18 linked to a basic recovery rate of 9.5% subject to a premium of Rs. 2.68 per quintal for every 0.1% point increase ...
Govt increases sugarcanes fair price by Rs. 25/quintal to Rs. 255
The Dollar Business Bureau The Cabinet has approved an increase in sugarcane’s fair and remunerative price (FRP) by Rs.25 a quintal to Rs.255 for the season 2017-18 starting from October. In this regard, a decision was taken at the Cabinet Committee on Economic Affairs (CCEA) meeting in New Delhi on Wednesday. The FRP is the lowest price that is legally guaranteed to the sugarcane farmers. On the other hand, the state governments can also set their own state-advised price (SAP) and the mill owners can offer a price more than the FRP. “Sugar mills situation has improved. For 2017-18, sugarcane FRP of Rs.255 per quintal has been approved, which is 10.6% higher than the current level,” Finance Minister Arun Jaitley told journalists after the Cabinet meeting. The sugarcane prices are associated with ...
Nothing sweet about governments support to sugar industry
Sai Nikesh | The Dollar Business Amidst surplus stocks, Indian sugar farmers started gearing up for the next season and Indian sugar industry is likely to witness further rise in exports in the coming season. Shipments are expected to reach 2 million Metric Tonnes (MT) during the 12 month-period starting from October 1 and the government has subsidised exports, keeping in view, the continuous decline in sugar prices since 2009. "However, this is not enough to meet real requirements of the domestic industry, which has been facing lot of issues due to piled-up stocks," says Sanjeev Babar, MD, Maharashtra State Co-Operative Sugar Factories Federation Ltd. Speaking to The Dollar Business, Sanjeev Babar raised various issues concerning domestic sugar industry, highlighting a ...
