Fair and Remunerative Price (FRP)

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Fair and Remunerative Price (FRP)

WHY IN NEWS?

The Cabinet Committee on Economic Affairs, has approved Fair and Remunerative Price (FRP) of sugarcane for sugar season 2022-23 (October - September) at ₹305 per quintal.

The move will put pressure on sugar companies as they will have to pay more to procure and will come as a relief to the farmers as the sugarcane crushing season is set to start early this year.

IMPORTANCE:

What is the FRP?

·       FRP is the price declared by the government, which mills are legally bound to pay to farmers for the cane procured from them.

ü Mills have the option of signing an agreement with farmers, which would allow them to pay the FRP in installments.

ü Delays in payment can attract an interest up to 15% per annum, and the sugar commissioner can recover unpaid FRP as dues in revenue recovery by attaching properties of the mills.

·       The payment of FRP across the country is governed by the Sugarcane Control order, 1966 issued under the Essential Commodities Act (ECA), 1955 which mandates payment within 14 days of the date of delivery of the cane.

·       It has been determined on the recommendation of the Commission for Agricultural Costs and Prices (CACP) and announced by the Cabinet Committee on Economic Affairs (CCEA).

ü CACP is an attached office of the Ministry of Agriculture and Farmers Welfare. It is an advisory body whose recommendations are not binding on the Government.

ü CCEA is chaired by the Prime Minister of India.

·       The FRP is based on the Rangarajan Committee report on reorganizing the sugarcane industry.

Which Factors are considered for announcing FRP?

·       Cost of production of sugarcane

·       Return to the growers from alternative crops and the general trend of prices of agricultural commodities

·       Availability of sugar to consumers at a fair price

·       Price at which sugar produced from sugarcane is sold by sugar producers

·       Recovery of sugar from sugarcane

·       The realization made from the sale of by-products viz. molasses, bagasse and press mud or their imputed value

·       Reasonable margins for the growers of sugarcane on account of risk and profits

How is FRP Paid?

·       The FRP is based on the recovery of sugar from the cane.

ü FRP has been fixed at Rs 2,900/tonne at a base recovery of 10% for the sugar season of 2021-22.

·       Sugar recovery is the ratio between sugar produced versus cane crushed, expressed as a percentage.

·       The higher the recovery, the higher is the FRP, and higher is the sugar produced.

 

SOURCE: https://www.thehindu.com/news/national/centre-increases-fair-and-remunerative-price-on-sugarcane/article65722642.ece


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