Sugar factories up sugarcane purchase price

In what will come as a relief for sugarcane growers of south Gujarat, sugar factories of the region have decided to purchase sugarcane at higher prices.

The revised prices were announced after the meeting of the directors of seven sugar factories of the region on Saturday.

"The rise in sugar prices and the Centre's decision to allow us to release higher quantity in the domestic market are the resons behind the rise in procurement prices," said, N B Gohil, managing director, Shree Khedut Sahakari Khand Udyog Mandali Ltd of Bardoli.

"This has reduced our interest burden. In short, the production costs have gone down, which is why we can afford to pay higher prices to the farmers," Gohil added.