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Our Bureau

New Delhi , Aug 4

The Cabinet Committee on Economic Affairs (CCEA) has fixed the Statutory Minimum Price (SMP) of sugarcane for 2006-07 sugar season at Rs 80.25 a quintal for a base recovery rate of 9 per cent subject to a premium of Rs 0.90 for every 0.1 percentage point increase in the recovery above that level.

Briefing newspersons on the CCEA decisions, the Finance Minister, Mr P. Chidambaram, said the SMP had been fixed on the basis of the recommendations of the Commission for Agricultural Costs and Prices (CACP).

He highlighted that the Government had been for the sugar seasons of the last three years going with the recommendations of the CACP in deciding the SMP for sugarcane. A SMP assures minimum price to cane growers. For 2005-06 sugar season, the Government had pegged it at Rs 79.50 a quintal.

More Stories on : Agricultural Policy | Sugar

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