India raises 2024/25 sugar cane floor price by 8%

India will raise the floor price that mills must pay for sugar cane in the 2024/25 season by 8% from Oct. 1, Information and Broadcasting Minister Anurag Thakur said on Wednesday.

New Delhi fixed the buying price of sugar cane at 340 rupees per 100 kg for next season, up from this year's 315 rupees, for a basic recovery rate of 10.25%, the minister said.

The world's second-largest sugar producer is trying to boost output and please farmers ahead of a general election later this year.