Fair And Remunerative Price

Consider the following statements in contest to the Fair and Remunerative Price(FRP):

1. FRP is the price declared by the government, which mills are legally bound to pay to farmers for the cane procured from them.
2. The Central Government announces Fair and Remunerative Prices which are determined on the recommendation of the Commission for Agricultural Costs and Prices (CACP) and announced by the Cabinet Committee on Economic Affairs (CCEA).
3. The payment of FRP across the country is governed by The Sugarcane Control order, 1966.
4. It mandates payment within 18 days of the date of delivery of the cane.

Which of the statement(s) given above is/are correct?