Centre buys paddy worth Rs 27,995 crore in Punjab, 6.8 lakh farmers benefit
As of November 8, 2024, the Food Corporation of India (FCI) and state agencies have procured 120.67 LMT of paddy in Punjab during the ongoing kharif season, worth Rs 27,995 crore. The procurement is happening at the Minimum Support Price (MSP) of Rs 2,320 per quintal for Grade ‘A’ paddy, benefitting around 6.58 lakh farmers. The procurement process continues smoothly, with over 4,700 millers involved.
New Delhi, Nov 9: Food Corporation of India (FCI) and state agencies have procured 120.67 lakh metric tonne (LMT) paddy in Punjab during the ongoing kharif marketing season (KMS) 2024-2025 (as of November 8) worth Rs 27,995 crore, the government said on Saturday. A total quantity of 126.67 LMT of paddy arrived in the Punjab mandis as of November 8, out of which 120.67 LMT has been procured by state agencies and the FCI.
FM Sitharaman The paddy is being purchased at MSP Rs 2,320 per quintal as decided by government for Grade ‘A’ paddy and the total paddy purchased by till date in the ongoing KMS 2024-25, amounts to Rs 27,995 crore benefitting around 6.58 lakh farmers in Punjab. According to the government, 4,839 millers have applied for shelling of paddy and 4,743 millers have already been allotted work by Punjab state government.
The Ministry of Consumer Affairs, Food and Public Distribution said that the procurement of Paddy for KMS 2024-25 has commenced in Punjab from October 1 2024 and 2,927 designated mandis and temporary yards are operational throughout the state for smooth procurement from the farmers of Punjab. Central Government has fixed an estimated target of 185 LMT for paddy procurement for the ongoing KMS 2024-25 which would continue up to November 30. Also Read – India leads Asia Pacific office market with 70 pc of total demand “The paddy lifting from the mandis is in full swing and the paddy lifted is more than the daily arrival quantity. As such paddy procurement is going on smoothly,” said the government. The MSP is the price fixed by the Centre at which it buys food grains from the farmers to ensure that they get a profitable return and do not have to resort to distress sales.
Goldman Sachs In October, the Union Cabinet had announced an increase of up to 7 per cent in the Minimum Support Prices (MSP) of rabi crops such as wheat that are being sown now for the 2025-26 marketing season that will start from April.
