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K'taka asks Centre to procure groundnut as prices crash below MSP

Bumper production of groundnut has led to price crash under minimum support price in Karnataka

Press Trust of India  |  New Delhi 

K'taka asks Centre to procure groundnut as prices crash below MSP

Concerned over crash in prices below the minimum support price (MSP), Agriculture Minister Byre Gowda today demanded that the central government start procurement of the commodity to protect farmers' interest.

The issue was discussed in detail at a meeting with Union Agriculture Minister Radha Mohan Singh, who has promised to look into the matter.

"crop is very good in the state. As a result, prices have fallen below the minimum support price. We have asked the Centre to start the procurement," Gowda told PTI after meeting the Union minister.

The Centre has been asked to intervene early and initiate procurement under the Price Support Scheme (PSS), he said.

prices at some of the major mandis in the state are ruling at Rs 3,264 per quintal, which is below the MSP of Rs 4,450 per quintal, he pointed out.

"The rate of is expected to fall further below the present rate during the coming season leading to farmers resorting to distress sale," the government said in a representation made to the Centre.

Harvesting of the kharif crop is in full swing in major growing areas -- Gadag, Bagalkot, Bellary, Chitradurga, Davanagere, Raichur, Tumkur and Koppal, it said.

crop is one of the major oilseed crops of It is grown in 4 lakh hectares and the production in the kharif season of 2017-18 is expected to be 2.40 lakh tonnes, it added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, November 16 2017. 16:01 IST