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MUMBAI, Aug 25 (Reuters) – India’s cabinet has approved raising the price that sugar mills must pay for cane in the season beginning Oct. 1 to 290 rupees ($3.91) per 100 kg, up from 285 rupees a year earlier, Commerce Minister Piyush Goyal
told reporters on Wednesday.
The government raises the floor price for cane every year, but Uttar Pradesh state, the country’s top cane producer, invariably raises the floor price further due to its millions of cane growers, an influential voting bloc.
