INDIA: Cabinet hikes 2012/13 RFP 17% to US$3.08
Published: 07/20/2012, 1:29:10 PM
The Cabinet Committee on Economic Affairs has approved the Fair and Remunerative Price of sugarcane payable by sugar mills for 2012/13 sugar season to be fixed at INR170 (US$3.08) per quintal linked to a basic recovery rate of 9.5% subject to a premium of INR1.79 per quintal for every 0.1 percentage point increase in recovery above that level, reports Sugaronline.
This will ensure a guaranteed price to cane growers and will be uniformly applicable all over the country.