Fixation of sugarcane price:-
(1) Fixation of sugarcane price as per clause (a) of section 4 shall be done.
a) Either on the basis of the realization from sale of sugar alone or
b) On the basis of the realization from sale of sugar including the realization from sale of primary by-product such as bagasse, molasses and press mud. It may be decide by the board.
(2) Every factory which has undertaken crushing shall, within 120 days from the end of the financial year, submit the detailed accounts of its crushing, realization from sale of sugar, molasses bagasse’s and press mud in such format as the board may specify from time to time and other relevant information duly certified by the statutory auditor of the factory as required by Board which is necessary for it to decide the sugarcane price.
(3) for the purpose of calculating revenue sharing from sale of sugar and its primary by-product, every sugar factory shall maintain the records in such form as the Board may specify, from time to time and shall submit the necessary documents to Commissioner for Sugar Office as and when required and also adopt the measure to bring uniformity in all sugar factories as directed by Commissioner for Sugar from time to time.
(4) Where the factory has undertaken the harvesting and transportation of sugarcane, the payment for sugarcane supplied shall be made after deduction of actual harvesting and transportation cost.
(5 )The Board shall by resolution fix the sugarcane price. After order of the Member Secretary of the Board communicate the same.
(6) The factory shall pay the sugarcane price, arrived at as the provisions of these rules, within thirty days from the date of the Order of the Board under sub-section (5) Provided that, if the factory fails to pay the price within the said period of thirty days, there shall be paid an interest at the rate of twelve per cent per annum. Provided further that nothing in these rules shall prevent a sugar factory to pay the price, over and above the price fixed by the Board under sub-section (5), if the financial health of sugar factory is good: Provided also that, in such case, such factory shall obtain prior approval of commissioner for Sugar.