The government has set the minimum buying price of sugarcane for the current fiscal year 2079/080. The Council of Ministers meeting held today set the minimum support price for sugarcane.
According to the spokesperson of the Ministry of Agriculture and Livestock Development Prakash Kumar Sanjel, the minimum buying price of sugarcane produced by the farmers has been fixed at Rs 540 per quintal. The price includes the production cost of sugarcane, transportation expenses, and profit.
The price this year is Rs 20 per quintal more than the previous fiscal year. Last year, the government fixed the minimum support price of sugarcane at Rs 520 per quintal.
The subsidy given by the government to sugarcane farmers has been remaining unchanged. As a result, sugarcane farmers will continue to receive Rs 70 per quintal as a subsidy, the Ministry of Agriculture said in a statement.
Along with the subsidy provided by the government, farmers will get a minimum of Rs. 610 per quintal for the sale of sugarcane for the current fiscal year.
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