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Union Cabinet approves increase in FRP for sugarcane to Rs 340/qtl
Photo courtesy: Pixabay

Union Cabinet approves increase in FRP for sugarcane to Rs 340/qtl

India Blooms news Service | @indiablooms | 22 Feb 2024, 02:24 am

New Delhi: The Union cabinet has approved a raise in the fair and remunerative prices for sugarcane for the upcoming season, Union Minister Anurag Thakur said during a media briefing on Wednesday.

The price has been increased by Rs 25, now set at Rs 340 per quintal, up from the previous Rs 315.

"It has been decided to fix the price for the upcoming sugarcane season, in the period from October 1, 2024, to September 30, 2025, to ensure the fair and reasonable price of sugarcane to the farmers by the sugar mills...It has been decided to fix the price at Rs 340 per quintal for the year 2024-25 as compared to the previous year which was Rs 315, which has increased to Rs 340 per quintal this year," said Thakur.

FRPs for sugarcane are usually established to provide sugarcane growers with a guaranteed price, without consideration for whether sugar mills will be profitable or operate at a loss.

Analysts suggest that higher FRPs often impact the profit margins of sugar mills negatively.

The Cabinet, led by PM Modi, has approved additional modifications to the National Livestock Mission. These modifications involve various new activities.

One significant change is the introduction of entrepreneurship opportunities for horse, donkey, mule, and camel breeding.

Individuals, as well as entities such as Farmers' Producer Organizations (FPOs), Self-Help Groups (SHGs), Joint Liability Groups (JLGs), Farmer Producer Companies (FCOs), and Section 8 companies, will be eligible for a 50% capital subsidy of up to Rs 50 lakh.

Further, assistance will be provided to state governments for the conservation of horse, donkey, and camel breeds.

The Central Government will allocate Rs 10 crore for the setting up of semen stations and nucleus breeding farms for these animals.

Another aspect of the modification involves supporting entrepreneurs in the fodder seed processing sector.

Private companies, startups, SHGs, FPOs, FCOs, JLGs, Farmers Cooperative Societies (FCOs), and Section 8 companies will be eligible for a 50% capital subsidy of up to Rs 50 lakh for establishing infrastructure such as processing and grading units, fodder storage godowns, and other related facilities like construction of buildings, receiving sheds, drying platforms, and machinery.

"For increasing the fodder cultivation areas, the state government will be assisted for fodder cultivation in the non —forest land, waste land/range land/ non arable as well as forest land ‘Non-Forest Wasteland/Rangeland/Non-arable Land’ and ‘Fodder Production from Forest Land’ as well as in the degraded forest land. This will increase the fodder availability in the country," the minister said.

The Livestock Insurance program has undergone simplification as well.

The portion of the premium that farmers must contribute has been decreased to 15%, down from the previous ranges of 20%, 30%, 40%, and 50%.

The remaining portion of the premium will be divided between the Central and State governments at a ratio of 60:40 for all states, and 90:10 in certain cases.

Moreover, the number of animals eligible for insurance has been doubled to 10 cattle units instead of the previous 5 cattle units for cattle, sheep, and goats.

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