Sugarcane Support Price: Farmers in Punjab have been given good news. The Agriculture and Farmers Welfare Department has increased the state support price of sugarcane by Rs 10.
The price has been raised from Rs 291 per quintal to Rs 401 per quintal. This adjustment will be implemented in the 2024-25 sugarcane crushing season.
Support Price of Sugarcane Will be Equal to New Crops
In the same way, the Indian Government set a support price of Rs 391 per quintal last year for the specified varieties C-BPO 98, C-BPO 93, 94, 91, C-O0238, and C-JO88.
Starting January 15, the support price for these sugarcane varieties will match that of the new crops. These rates will be applicable from the beginning of the 2024-25 crop season.
Subsidy Will be given after Payment From Private Mills
The department announces that private sugar mills will pay Rs 329.50 and Rs 339.50 per quintal for the older and newer varieties of sugarcane, respectively, from the total amounts of Rs 391 and Rs 401 per quintal.
The government will cover the remaining Rs 61.50 per quintal as a subsidy, which will be credited to the sugarcane farmers' accounts. This subsidy will be disbursed by the government only after the private mills have made their payments.