Consider the following statements : 1. The Union Government fixes the Statutory Minimum Price of sugarcane for each sugar season. 2. Sugar and sugarcane are essential commodities under the Essential Commodities Act. Which of the statements given above is/are correct?

1. Statement 1: Claims the Union Government fixes the Statutory Minimum Price (SMP) of sugarcane for each sugar season. The central government used to fix the SMP for sugarcane based on the recommendations of the Commission for Agricultural Costs and Prices (CACP). (Later, SMP was replaced by the Fair and Remunerative Price - FRP, but SMP was the relevant term earlier). This statement is correct. 2. Statement 2: Claims Sugar and sugarcane are essential commodities under the Essential Commodities Act (ECA), 1955. Both sugar and sugarcane have been notified as essential commodities under the ECA, allowing the government to regulate their production, supply, and distribution to ensure availability and control prices. This statement is correct. 3. Since both statements are correct, the answer is (C) Both 1 and 2.