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Centre hikes sugar minimum selling price to Rs 31 per kg

Centre hikes sugar minimum selling price to Rs 31 per kg, Photo: Shutterstock

With an aim to benefit sugar mills and in order to clear their arrears/cane dues to farmers, the Centre has decided to increase the Minimum Selling Price (MSP) of sugar from Rs. 29 to Rs. 31 for the year 2019-20

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With an aim to benefit sugar mills and in order to clear their arrears/cane dues to farmers, the Centre has decided to increase the Minimum Selling Price (MSP) of sugar from Rs. 29 to Rs. 31 for the year 2019-20. This announcement was made by the Union Minister of Consumer Affairs, Food and Public Distribution, Ram Vilas Paswan Thursday evening. The Department of Food, Ministry of Consumer Affairs, Food and Public Distribution has made this decision of increasing MSP by Rs. 2 in order to provide more liquidity to the sugar mills so that they are able to pay the arrears or dues to the sugarcane farmers.

Addressing media after the announcement, Paswan expressed confidence that the hike in minimum selling price would lead to increased income and savings for the sugar mills which will then be passed on to the sugarcane farmers.

The Department of Food in association with the state governments will also be able to monitor the sale of sugar at the new, revised minimum selling price rate so as to ensure that the sugar mills are utilising their increased liquidity to pay farmers’ dues. As on February 13, 2019, the farmers’ arrears on sugarcane mills amount to Rs. 20,167 crore while the same computed at fair and remunerative price (FRP) amounts to Rs. 18,157 crore.

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