Explained: What is the Fair and Remunerative Price ?

The Cabinet Committee on Economic Affairs on Wednesday hiked the Fair and Remunerative Price (FRP) for sugarcane by 8 percent to Rs340 per quintal for 2024-25, from Rs315 per quintal in 2023-24. As per the revised rates, the sugar mills will pay the latest price to the farmers for a recovery rate of 10.25 percent from October 1.