The government has fixed the minimum buying price of sugarcane produced by the farmers at Rs 540 per quintal.
A meeting of the Council of Ministers held on Wednesday set the minimum support rate for sugarcane for the current fiscal year 2022/23.
According to spokesperson of the Ministry of Agriculture and Livestock Development, Prakash Kumar Sanjel, the minimum buying rate of sugarcane produced by the farmers has been fixed at Rs 540 per quintal. The price includes the production cost of sugarcane, transportation expenses and profit.
The government had fixed the minimum support price of sugarcane at Rs 520 per quintal in the previous fiscal year.
The subsidy given by the government to sugarcane farmers has remained unchanged. The sugarcane farmers will continue to receive Rs 70 per quintal as a subsidy, the MoALD said in a statement.
Along with the subsidy provided by the government, farmers will get a minimum of Rs 610 per quintal for the sale of sugarcane.
