The Union Cabinet on Wednesday announced Fair and Remunerative Price (FRP) of sugarcane at Rs 275 per quintal. In an official statement, the Centre said the price hike will ensure that farmers avail a return of more than 50 percent over their cost.

'This FRP Rs. 275 per quintal at a recovery rate of 10 percent is higher by 77.42 percent over production cost thereby ensuring the promise of giving the farmers a return of more than 50 percent over their cost,' read the statement.