FCI, state procurement agencies purchase 4.85 mn tonnes of paddy so far

FCI and state procurement agencies have purchased 4.85 mn tonnes of paddy till Monday at the minimum support price (MSP) for over Rs 9,000 crore, the government said on Tuesday.

Food Corporation of India (FCI) and state procurement agencies have purchased 48.53 lakh tonnes of paddy till Monday at the minimum support price (MSP) for over Rs 9,000 crore, the government said on Tuesday.

"The kharif marketing season (KMS) 2020-21 has already commenced and the government continues to procure kharif 2020-21 crops at its MSP from farmers as per its existing MSP schemes as was done in previous seasons," according to an official statement.

Paddy procurement for KMS 2020-21 has gained a good momentum, it said.

"Food Corporation of India along with other govt agencies has, up to October 12, procured over 48.53 LMT (lakh metric tonnes) paddy with a total MSP value of Rs 9,164.30 crore benefitting more than 4.16 lakh farmers," the statement said.

The procurement of seed cotton (kapas) during KMS 2020-21 has started from October 1, 2020. The cumulative procurement as on October 12 by Cotton Corporation of India has reached a quantity of 43,376 bales under MSP for a value of Rs 122.52 crore benefitting 8,943 farmers.

That apart, 630.06 tonnes of moong and urad having an MSP value of Rs 4.53 crore and 5,089 tonnes of copra having an MSP value of Rs 52.40 crore were also procured till Monday.