India's top sugar producing state raises sugarcane price by 3,3%
India’s biggest sugar producing state has raised the price mills must pay for the new crop by 3,3%.
It is reported by Reuters.
Uttar Pradesh raised the cane price to 315 rupees (UAH 126) per 100 kg for the crop year that began this month, up from 305 rupees (UAH 122) in the previous year. The federal government has kept the MY 2017/18 cane floor price at 255 rupees (UAH 102) per 100 kg.
Although the federal government fixes the sugarcane price every year, some state governments such as Uttar Pradesh invariably raise the rate to court farmers, which is a large voting bloc.