India, Nov. 7 -- Sugarcane farmers called off their 62-hour road blockade of the Pune-Bengaluru National Highway (NH-48) past midnight on Thursday, after reaching an agreement with sugar mill owners on sugarcane prices.

The decision followed a meeting between representatives of sugar mills and farmers' representatives at the Kolhapur district collector's office. The meeting, also attended by NCP minister from Kolhapur Hasan Mushriff, devised a new formula that fixed prices for farmers. After the meeting, Raju Shetti, chief of the Swabhimani Shetkari Sanghatana, arrived at the Kini toll plaza, the protest site, and announced the suspension of the agitation.

Under the new 'Kolhapur Formula', farmers will receive Rs.3,900 per tonne as the ...