SMP fixed for sugarcane at Rs 81.18 a quintal

New Delhi, Mar 20 (UNI) The Cabinet Committee on Economic Affairs (CCEA) today fixed the statutory minimum price (SMP) for sugarcane at Rs 81.18 per quintal for the sugar season 2008-09.

This will allow basic recovery of 9 per cent subject to a premium of Rs 0.90 for every percentage point increase in the recovery above that level, CCEA spokesperson Priya Ranjan Dasmunsi told reporters after a meeting of the CCEA.

The SMP will ensure a minimum support price to cane growers.

It is based on the recommendations of the Commission for Agricultural Costs and Prices.

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