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Business News/ Industry / Agriculture/  PM Modi says, 'Committed to fulfill every resolution related to farmers’ welfare'. All you need to know
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PM Modi says, 'Committed to fulfill every resolution related to farmers’ welfare'. All you need to know

PM Modi endorsed the significant hike in sugarcane prices, emphasizing the government's dedication to farmers' well-being. The approved ₹340 per quintal FRP for the 2024-25 season aims to benefit millions of sugarcane producers

Prime Minister Narendra Modi hails increase in the Fair and Remunerative Price (FRP) of sugarcane (Rahul Singh)Premium
Prime Minister Narendra Modi hails increase in the Fair and Remunerative Price (FRP) of sugarcane (Rahul Singh)

After the Cabinet Committee on Economic Affairs increased the Fair and Remunerative Price (FRP) of sugarcane, Prime Minister Narendra Modi said on Thursday that the government is committed to fulfilling every resolution related to the welfare of our farmers across the country.

In a post in Hindi, PM Modi wrote on the X platform, “Our government is committed to fulfilling every resolution related to the welfare of our farmer brothers and sisters across the country. In this context, a historic increase in the price of sugarcane purchase has been approved. This step will benefit crores of our sugarcane-producing farmers".

PM Modi tweeted on the same day when a young farmer died during the ongoing farmers' protest on the Punjab-Haryana border. Subhkaran Singh (21), a resident of Baloke village in Punjab's Bathinda district died after tear gas shells were fired by the Haryana Police to disperse Punjab farmers at Khanauri border point as they tried to move towards barricades stalling their protest march to Delhi.

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On the same day, the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi approved the Fair and Remunerative Price (FRP) of sugarcane for Sugar Season 2024-25 at 340 per quintal at a sugar recovery rate of 10.25%. This was the historic price of sugarcane, which is about 8 per cent higher than the FRP of sugarcane for the current season (2023-24). The revised FRP will be applicable from October 1, 2024.

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"At 107 per cent higher than the A2 FL cost of sugarcane, the new FRP will ensure the prosperity of sugarcane farmers. 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 for domestic consumers in Bharat," a Cabinet Committee on Economic Affairs release said.

"This decision of the Central Government is going to benefit more than 5 crore sugarcane farmers (including family members) and lakhs of other persons involved in the sugar sector. It re-confirms the fulfilment of the Modi ki Guarantee to double farmers' income," the release said.

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With this approval, sugar mills will pay FRP of sugarcane at 340 per quintal at the recovery of 10.25 per cent. With each increase of recovery by 0.1 per cent, farmers will get the additional price of 3.32 while the same amount will be deducted on the reduction of recovery by 0.1 per cent. However, 315.10 per quintal is the minimum price of sugarcane which is at recovery of 9.5 per cent. Even if sugar recovery is lesser, farmers are assured of FRP at 315.10 per quintal.

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According to the Cabinet Committee on Economic Affairs, in the last 10 years, the Government has ensured that farmers get the right price of their crops at the right time. 99.5 per cent of the cane dues of the previous sugar season 2022-23 and 99.9 per cent of all other sugar seasons are already paid to farmers leading to the lowest cane arrears pending in the history of the sugar sector.

The FRP has been determined based on the recommendations of the Commission for Agricultural Costs and Prices (CACP) and after consultation with state governments and other stakeholders.

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Published: 22 Feb 2024, 12:25 PM IST
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