Government Procures Paddy Worth Rs 1,59,660 Crore from Farmers at Minimum Support Price

The Union food ministry announced on Friday that the central government has disbursed payments totaling Rs 1,59,659.59 crore to approximately 1.12 crore farmers as part of the Minimum Support Price (MSP) program for procuring paddy.

The Food Corporation of India, along with other state agencies, is responsible for the procurement of paddy at the MSP. Subsequently, the procured paddy is milled to produce rice, which is then distributed to the public through different food security schemes.

As per the officials farmers have the liberty to sell their produce to any buyers, without any legal obligation to sell to government agencies, and are allowed to determine the prices themselves.

"If farmers receive prices higher than the support price from alternative buyers like traders or millers, they have the freedom to sell their produce to them."

Also Read:- Gujarat Agriculture Minister Initiates Scheme to Boost Millet Cultivation

"The Food Ministry, through the Food Corporation of India (FCI) and state government agencies, ensures that farmers are not forced to sell their produce below the support price," as stated in official communication by Food Ministry.

Prior to each Rabi or Kharif crop season, the central government announces the minimum support prices for procurement, which are implemented before the harvest. The MSP for paddy in the 2022-23 season has been set at Rs 2,040-2,060.

Also Read:- Punjab Agri Minister Dhaliwal Announces Rollout of New Agri Policy on June 30

Kharif crops are sown between June and July and harvested between October and November, while Rabi crops are sown between October and November and harvested between January and March, depending on their maturity. Summer crops are produced after the Rabi season but before the Kharif season.

In the latest development, the agriculture ministry has released the third advance estimates of major crop production for the agricultural year 2022-23. According to these estimates, the total food-grain production in the country has reached a record-breaking 330.5 million tonnes.

-ANI 

Also Read:- HP Sets Target, Plans to Expand Natural Farming to 30,000 Acres by FY24