 "From the 2018-19 sugarcane season starting October, the Centre not only increased the base recovery rate from 9.5 to 10 per cent, but also raised the premium extra yield in sugar from Rs 2.68 per quintal to Rs 2.75 a quintal")
Even as crushing operations in the country's top two sugarcane producing states of Maharashtra and Uttar Pradesh have begun, the farmers' outstanding of about Rs 125 billion, pertaining to the 2017-18 season, is likely to be reduced by almost 33 per cent, or Rs 40 billion, by the end of November.
Following the Yogi Adityanath government-sponsored soft loan package of Rs 40 billion to help UP private millers settle payments, all the mills meeting the eligibility criteria have applied for these advances. The UP mills carry an arrears burden of about Rs 78 billion.
UP Cane Commissioner Sanjay
