Govt’s rice procurement reaches 52.06 million tones to date; makes Rs 1.6 lakh crore MSP fee

The federal government’s rice procurement has reached 52.06 million tonnes to date within the ongoing 2022-23 advertising and marketing season, benefitting 1.12 crore farmers with MSP of Rs 1.6 lakh crore, the meals ministry stated on Friday.

The Meals Company of India (FCI) together with state companies undertakes procurement of paddy underneath worth help scheme. The Centre has set a goal to purchase 62.60 million tonnes of rice within the 2022-23 advertising and marketing season (October-September).

Additionally learn: Companies exports to overhaul merchandise commerce by FY28: SEPC

The FCI had procured 57.58 million tonnes of rice throughout the 2021-22 advertising and marketing season.

In accordance with the meals ministry, a complete of 52.06 million tonnes of rice was procured as much as Might 22 of the present kharif advertising and marketing season.

As many as 1.12 crore farmers have benefited from the procurement operation. About Rs 1,59,659.59 crore has been paid as minimal help worth (MSP) to them, it stated in a press release.

The federal government has mounted MSP of ‘widespread’ grade paddy at Rs 2,040 per quintal, whereas ‘A’ grade paddy at Rs 2,060 per quintal for the present yr.

In accordance with the third estimate of the agriculture ministry, rice output is pegged at a file 135.54 million tonnes for 2022-23 crop yr, as towards 129.47 million tonnes within the earlier yr.

The ministry stated paddy delivered to the acquisition centres that are inside the prescribed high quality specs are bought on the mounted MSP.

If the farmers get costs higher than the help worth from different consumers comparable to merchants/millers and so on., they’re free to promote their produce to them. FCI and the state authorities/companies be sure that the farmers should not compelled to promote their produce beneath help worth, it stated.

FCI and a lot of the state governments have developed their very own on-line procurement system by which farmers get newest/up to date info concerning MSP declared, nearest buy centre, date of procurement and so on., it added.

Supply hyperlink