Floor price of paddy to be hiked shortly : CM

Kerala Chief Minister Oommen Chandy today said floor price of paddy would be hiked by the Central Government shortly.

He was inaugurating the Rs 425 crore Integrated Kole Land Development Project, fully assisted by the Centre, at nearby Eanamavu this morning.

Chandy said overall development of Kole land over 14000 hectares in Malappuram and Thrissur districts of the State was essential for increase of paddy production in Kerala and development of farmers.

Chandy said Centre granted Rs 13.10 per kg of paddy and the State government paid Rs 19 kilogram as procurement price and Government paid Rs 5.90 as subsidy per kg of paddy at present.

The subsidy was despite financial constraints with a view to protecting the interests of farmers.

He said his Government had given priority for the development of farmers and paddy cultivation in view of areas under paddy cultivation being on the decline.

Chairman of the Kole Development Council, P C Chacko, MP said Nabard has granted Rs 300 crore for the project, and RKVY Rs 114.20, he said, adding, ICAR has sanctioned Rs 15 crore for setting up a Kole Ecology Research Station.

With the commissioning of the project, per hectare production of paddy would be increased between three and six ton per hectare.