The Cabinet Committee on Economic Affairs gave its assent to the proposal in this regard by the Department of Food under the Ministry of Consumer Affairs, Food and Public Distribution, on the recommendation of the Commission for Agricultural Costs and Prices (CACP).
Briefing reporters after the meeting, Union Information and Broadcasting Minister Prakash Javadekar said that the decision will benefit one crore sugarcane growers, who will now get Rs Rs 2,850 per ton.
The price has been fixed on the basis of a recovery rate of 10 per cent, while the farmers will get additional money at the rate of Rs 28.50 per quintal, if the recovery rate is one per cent higher, at 11 per cent, he said.
Javadekar also said that even if the recovery rate is 9.5 percent, sugarcane farmers will get a remunerative price at the rate of Rs 270.75 per quintal.
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