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India raises 2018/19 sugar cane floor price by 7.84 percent - minister

Reuters  |  NEW DELHI 

(Reuters) - Indian cabinet has approved raising the price that mills must pay for cane in the next season beginning Oct. 1, to 275 rupees ($4.01) per 100 kg, up from 255 rupees a year earlier, a said on Wednesday.

The government raises the floor price for cane every year, but state, the country's top cane producer, invariably raises the floor price further to woo million of cane growers, an influential voting bloc.

($1 = 68.6200 Indian rupees)

(Reporting by Mayank Bhardwaj; Editing by Malini Menon)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 18 2018. 16:43 IST