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Minimum purchase price for rice, cotton raised to highest in 3 years

Farmers to get higher price for rice, cotton minimum purchase price


India raised minimum purchase prices for rice, cotton and other crops by the most since Prime Minister Narendra Modi came to power in 2014, according a government circular seen by Reuters, amid ongoing protests in the country's biggest farming states. Prices paid to local farmers for common grade paddy rice are to be raised by 5.4 percent to 1,550 rupees ($24.03) per 100 kg for the year starting on July 1, while long staple cotton prices have been hiked by 3.8 percent to 4,320 rupees per 100 kg. The increases for rice, cotton and other crops follow an outburst of discontent ...

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First Published: Tue, June 20 2017. 16:12 IST