Pune: The central government is trying to find a way out to address the Fair and Remunerative Price (FRP) issue, which sugar millers claim that causing troubles to them.
The sugar mills say that we have urged the central government that the current structure of the FRP law, which puts sugar mills in economic crisis, should be changed.
According to the reports, a proposal to resolve the issue will be submitted to the Central Government by the Commission for Agricultural Costs and Prices (CACP) soon.
The law mandates payment of the FRP to the growers within 14 days of delivery of cane and 15 per cent interest on it if they fail to adhere to the timeline. Millers have been saying that excess sugar production and depressed domestic sugar prices have led to an accumulation of cane price arrears.
“We have sent a proposal to the Central Government, in which we have explained the problem of FRP payment and its remedies,” Vivek Pitte, President of ISMA said.
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