The Centre on Wednesday announced a Rs 10 per quintal hike in sugarcane FRP, which is the minimum price that mills have to pay to sugarcane growers, to Rs 315 per quintal for the 2023-24 season starting October. The decision to increase the Fair and Remunerative Price (FRP) of sugarcane was taken at the meeting of the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi. The FRP of sugarcane has been fixed at Rs 315 per quintal for the 2023-24 season, up 3.28 per cent from current 2022-23 marketing year (October-September).
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