The Hindu Business Line : CCEA approves SMP for sugarcane

The Cabinet Committee on Economic Affairs today gave its approval to the statutory minimum price (SMP) for sugarcane at Rs 81.18 per quintal for a basic recovery 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 for sugar season 2008-09. The SMP is based on the recommendations of Commission for Agricultural Costs and Prices. It will ensure a minimum price to cane growers. - Our Bureau

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