Uttar Pradesh, India’s biggest sugar producing state, has raised the price mills must pay for the new crop by 3.3 percent, a state government source said on Friday.
The state raised the cane price to 315 rupees ($4.85) per 100 kg for the crop year that began this month, up from 305 rupees in the previous year, the state official, who declined to be named because he isn’t authorised to speak with media, told Reuters by telephone.
The central government has kept the 2017/18 cane floor price at 255 rupees per 100 kg.
Although the centre fixes the cane price every year, some state governments such as Uttar Pradesh invariably raise the rate to court farmers, which is a large voting bloc.($1 = 65.00 rupees)
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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