Sugarcane Crushers

The latest government direction has come as negative news for sugar companies, with their stocks trading lower for the second day on Friday

Cane dues of Rs 5,664 crore has been pending for payments to farmers on various sugar mills in the state for the 2022-23 crushing season, the Uttar Pradesh government said on Wednesday. "As per information till Jul 24, cane dues of Rs 5,664 of farmers are pending for payments," Cane Development Minister Lakshmi Narain Chaudhary said in a written reply in the state assembly on a question of member Ajay Kumar. He said that rules and regulations are in place to ensure payment of farmers and action is taken accordingly. He said for the pending dues, notices have been issued to sugar mills on April 21, May 19 and Jun 22 this year.

The MSP of sugar was last revised a few years back

He said the sugarcane yield could be at least 100 lakh tonnes more than the 900 lakh tonnes the state government is estimating this year

Hopes to provide sugarcane growers an alternative source