NEW DELHI, Jan 6: Food and Consumer Affairs Minister Pralhad Joshi announced on Monday that the Government will soon reach a decision regarding the potential increase of the minimum support price (MSP) for sugar.
The current MSP for sugar has remained unchanged at ₹31 per kg since it was set in February 2019. However, various industry groups are urging for an adjustment in light of escalating production costs and economic challenges encountered by sugar mills.
“There is an established demand. The department is currently reviewing the situation. We will soon decide whether an increase is warranted,” Joshi stated to reporters during an event here.
The Indian Sugar and Bio-Energy Manufacturers Association (ISMA) alongside the National Federation of Cooperative Sugar Factories (NFCSF) is advocating for the MSP to be raised to ₹39.14 per kg, or potentially even ₹42 per kg, to more accurately reflect production expenses and enhance the financial stability of sugar mills in India. (PTI)
