India raises 2018/19 sugar cane floor price by 7.84pc

NEW DELHI: Indian cabinet has approved raising the price that sugar mills must pay for cane in the next season beginning Oct. 1, to 275 rupees ($4.01) per 100 kg, up from 255 rupees a year earlier, a federal minister said on Wednesday.

The federal government raises the floor price for cane every year, but northern Uttar Pradesh state, the country's top cane producer, invariably raises the floor price further to woo million of cane growers, an influential voting bloc.