Web Sify
Follow us on
Mail
Print

UP increases sugarcane SAP by 17%

Source : BUSINESS_STANDARD
Last Updated: Fri, Dec 07, 2012 21:00 hrs

pUttar Pradesh UP on Friday announced the state advised price SAP for sugarcane for the 2012-13 crushing season At Rs 280 a quintal for the common variety the new SAP is 1667 per cent higher for the common variety compared to last yearppSAP for the early variety has been fixed at Rs 290 per quintal and Rs 275 for the substandard variety a significant increase from last year&rsquos Rs 250 and Rs 235 respectivelyppAccording to the government this would translate into total sugarcane payments of Rs 21500 crore to farmers this crushing season compared to Rs 18200 crore during 2011-12ppThe &ldquomassive increase&rdquo in SAP of Rs 40 a quintal for the common variety has come as a &ldquobig surprise&rdquo said S L Gupta secretary of UP Sugar Mills Association The common variety accounts for 60-70 per cent of the total cane production in UPpp&ldquoAs compared to SAP of Rs 165 per quintal in 2009-10 the current price of Rs 280 a quintal is an increase of 70 per cent in three years The sugar prices have improved by just 15 per cent The neighbouring states of Haryana and Punjab have decided a SAP of around Rs 240 a quintal whereas Tamil Nadu has announced SAP of only Rs 225 a quintal&rdquo he saidppDuring the 2011-12 crushing season the SAP announced on November 8 was hiked by Rs 40 to Rs 250 for the early variety and by Rs 35 to Rs 240 for the common variety The rejected variety rate was fixed at Rs 235 a quintalp


More from Sify:
blog comments powered by Disqus
most popular on facebook
talking point on sify finance