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Our Bureau

Chennai , Sept. 16

THE Tamil Nadu Government has announced a State Advised Price of Rs 1,014 for a tonne of sugarcane linked to 9 per cent recovery for the 2005-06 season. The Government has decided that the minimum price to be paid by any sugar mill should be Rs 1,014 a tonne even if the recovery is below an average of 9 per cent.

The Chief Minister, Ms Jayalalithaa, who made this announcement, said in a press release that the Government had also decided to provide an incentive of Rs 88 a tonne for every one per cent increase in recovery over and above the average recovery of nine per cent.

All cooperative sugar, public and private sector sugar mills are advised to follow this price system so that farmers are assured of decent returns, according to the release.

The release said that the Government would provide a Rs 75 crore package to the cooperative and public sector sugar mills to help them follow the new pricing policy. The additional cost for the cooperative and public sector mills to meet this policy was estimated at Rs 133.87 crore.

In a separate press release, Ms Jayalalithaa announced a Rs 645 crore relief for 7.25 lakh farmers. Under the package, the Government would waive Rs 402 crore of interest accumulated up to March 31, 2004 and another Rs 243 crore of interest that would accrue up to June 30, 2006 on the principal amount outstanding as on March 31, 2004. The Government would compensate the cooperative credit institutions through five equal annual instalments.

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