Sugar industry calls for price hike to Rs 39.14 per kg to help cut losses

Quick Summary:

Sugar industry body ISMA has demanded that the minimum selling price (MSP) of the sweetener should be increased to Rs 39.14 per kg from the current Rs 31 per kg as millers are facing losses due to high production cost.

In a statement on Tuesday, the Indian Sugar and Bio-Energy Manufacturers Association (ISMA) called for an increase in the Minimum Sale Price (MSP) of sugar, which has remained unchanged at Rs 31 per kg since February 2019.

Under the Sugar Price (Control) Order of 2018, MSP determination should account for FRP levels, but the current MSP fails to reflect these rising costs.

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Category: BusinessFinance

Markets: India

Topics: Sugar industry Hike in price MSP Sugar Price ISMA

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Article Type: News Report

Published On: 2024-10-29 @ 20:05:22 (2 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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