Sugar mills paid Rs 78,000 cr to cane farmers in H1 of 2023-24 season

Sugar mills paid Rs 78,000 cr to cane farmers in H1 of 2023-24 season

Sugar mills have paid Rs 78,000 crore to sugarcane farmers in the first six months (October-March) of the current marketing season, a food ministry official said on Wednesday.

Sugar marketing season runs from October to September.

While the season is still on, the mills have cleared 87 per cent of the total cane payment of Rs 90,000 crore till March 31 of the 2023-24 season, the official said.

Mills have produced more than 300 lakh tonne of sugar so far this season.

''Against the total cane payment of Rs 90,000 crore for October-March period of 2023-24 season, mills have already cleared Rs 78,000 crore,'' the official told PTI.

Cane payments are made as per the Fair and Remunerative Price (FRP) of Rs 315 per quintal fixed by the Centre for the 2023-24 marketing season, depending on the recovery rate.

The official also said that sugar mills have cleared 99.7 per cent of the total Rs 1.15 lakh crore cane dues of the 2022-23 season.

Cane dues prior to 2022-23 seasons have been almost cleared barring those held up in courts.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)