Lockdown impact: Domestic sugar consumption
Part of: GS-III- Economy-Sugar policy (PT-MAINS-PERSONALITY TEST)
According to rating agency Icra, the national lockdown due to the COVID-19 pandemic has adversely impacted the sugar demand, resulting in a decline in sugar prices to closer to minimum support price (MSP) levels of Rs 31 per kg from Rs 32.5 per kg in February 2020.
The demand for sugar has witnessed a significant decline following the nationwide lockdown and the overa
FRP and Sugar Pricing Policy in India
With the amendment of the Sugarcane (Control) Order, 1966 on 22.10.2009 and the concept of Statutory Minimum Price (SMP) of sugarcane was replaced with the ‘Fair and Remunerative Price (FRP)’ of sugarcane for 2009-10 and subsequent sugar seasons.
The cane price announced by the Central Government is decided on the basis of the recommendations of the Commission for Agricultural Costs and Prices (CACP) after consulting the State Government