First Business News Portal in English from Nepal
KATHMANDU: The government has fixed the minimum support price of sugarcane at Rs. 590 per quintal for the current fiscal year.
A Cabinet meeting on Wednesday approved the minimum farm gate price of sugarcane tabled by the Ministry of Industry, Commerce and Supplies for approval, informed Minister for Communication of Information Technology Gyanendra Bahadur Karki while making the decisions public on Thursday.
The government fixed the minimum retail price of sugarcane based on the cost of production, transportation, profit and subsidy provided by the government to the sugarcane farmers.
The price includes a government subsidy of Rs. 70 per quintal paid to sugarcane farmers. The price paid by the sugar factory to the farmers is Rs. 520 per quintal in which the minimum cost of sugarcane is Rs. 382, transportation cost is Rs. 62 and profit is Rs. 76.
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