Food Corporation of India (FCI) and government agencies have floated tenders at MSP to create a buffer stock and protect farmers’ interests.
The government has started procurement of paddy and so far, around 12.21 million tonnes of grain has been purchased from farmers at minimum support price (MSP), according to the Food Ministry.
Paddy worth Rs 2,689.77 crore has been procured from 99,675 farmers in Tamil Nadu, Punjab and Haryana at MSP, the ministry said in a statement on Thursday.
The harvest of Kharif paddy, sown on a slightly higher area of 411.96 lakh hectares this year, started last week.
Food Corporation of India (FCI) and government agencies have floated tenders at MSP to create a buffer stock and protect farmers’ interests.
The ministry aims to procure 521.27 lakh tonnes in the current season, while the actual procurement of 496 lakh tonnes was in the previous season a year ago.
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First print: Oct 5, 2023 | 2:49 PM IST