Sugar Industry Advocates for Revised Pricing Policies to Ensure Growth

ChiniMandi, a sugar industry think tank, urges government intervention to revise the Minimum Support Price (MSP) to align with sugarcane Fair and Remunerative Price (FRP). The industry faces financial struggles due to unremunerative prices and calls for supporting ethanol production and infrastructure enhancement.

On Tuesday, ChiniMandi, a sugar industry think tank, called for government intervention in revising policies crucial to the industry's financial health. The organization seeks to align the Minimum Support Price (MSP) with the Fair and Remunerative Price (FRP) mandated for sugarcane.

In a white paper titled 'Roadmap for Growth of Sugar, Bioenergy and Allied Industries,' ChiniMandi highlighted the detrimental effect the unchanged MSP since 2019 has had on the sector. Presented to Minister Nitin Gadkari and DFPD Joint Secretary Aswani Srivastava, the document emphasizes the need for a higher MSP to aid sugar mills in timely payments to farmers and boost financial stability.

The white paper advises on multiple strategies, from supporting ethanol infrastructure to diversifying revenue through new by-products. It calls on the government to strategize a long-term plan for advanced biofuels to further national energy objectives. Industry leaders like Uppal Shah stress the importance of urgent action in overcoming challenges the industry faces, advocating for a sustainable and globally competitive sugar and bioenergy market.

(With inputs from agencies.)