<p>The Centre on Wednesday approved a Rs 10 hike in the fair and remunerative price (FRP) of sugarcane, setting the price at Rs 285 per quintal for the upcoming October-September 2020-21 crushing season.</p>.<p>The Cabinet Committee on Economic Affairs, at a meeting chaired by Prime Minister Narendra Modi, gave its assent to the proposal in this regard moved by the Food Ministry.</p>.<p>Briefing reporters after the meeting, I&B Minister Prakash Javadekar said that the decision will benefit one crore sugarcane growers who will now get Rs Rs 2,850 per tonne of cane.</p>.<p>The price has been fixed on the basis of a recovery rate of 10%, while the farmers will get additional money at the rate of Rs 28.50 per quintal, if the recovery rate is 1% higher, at 11%, he said.</p>.<p>The recovery rate is the amount of sugar that can be produced from sugarcane. The higher the amount of sugar derived from the cane, the greater the price a farmer gets in the market.</p>.<p>Javadekar said the FRP will reduce by Rs 2.85 for every 0.1% decrease in the recovery rate in respect of sugar mills whose recovery is below 10% but above 9.5%.</p>.<p>The minister also said that even if the recovery rate is 9.5% or below, sugarcane farmers will get a remunerative price at the rate of Rs 270.75 per quintal.</p>
<p>The Centre on Wednesday approved a Rs 10 hike in the fair and remunerative price (FRP) of sugarcane, setting the price at Rs 285 per quintal for the upcoming October-September 2020-21 crushing season.</p>.<p>The Cabinet Committee on Economic Affairs, at a meeting chaired by Prime Minister Narendra Modi, gave its assent to the proposal in this regard moved by the Food Ministry.</p>.<p>Briefing reporters after the meeting, I&B Minister Prakash Javadekar said that the decision will benefit one crore sugarcane growers who will now get Rs Rs 2,850 per tonne of cane.</p>.<p>The price has been fixed on the basis of a recovery rate of 10%, while the farmers will get additional money at the rate of Rs 28.50 per quintal, if the recovery rate is 1% higher, at 11%, he said.</p>.<p>The recovery rate is the amount of sugar that can be produced from sugarcane. The higher the amount of sugar derived from the cane, the greater the price a farmer gets in the market.</p>.<p>Javadekar said the FRP will reduce by Rs 2.85 for every 0.1% decrease in the recovery rate in respect of sugar mills whose recovery is below 10% but above 9.5%.</p>.<p>The minister also said that even if the recovery rate is 9.5% or below, sugarcane farmers will get a remunerative price at the rate of Rs 270.75 per quintal.</p>
