The Cabinet Committee on Economic Affairs (CCEA) has approved a change in the fair and remunerative price of sugarcane payable by sugar mills for the 2015-16 sugar season to be fixed at Rs.230/- per quintal.
The Cabinet said that this will be linked to a basic recovery rate of 9.5 percent, subject to a premium of Rs.2.42 per quintal for every 0.1 percentage point increase in recovery above that level.
It further said that this decision will ensure a guaranteed price to cane growers.
