ISMA director general Abhinash Verma believes the sugar industry will see better realizations with the new price. The industry revenue will increase by nearly Rs 5,000 crore, he adds.
The sugar industry has been lobbying for an immediate review on current cane pricing and demanded that the UP government introduce the revenue sharing model suggested by the Rangarajan committee.
Sugar cane prices have increased 17 percent on average for the last three years, while sugar prices have been lower by nearly 10 percent year-on-year (YoY).