Govt's rice procurement reaches 52.06 MT so far; pays Rs 1.6 trn MSP
The government's rice procurement has reached 52.06 million tonnes so far in the ongoing 2022-23 marketing season, benefitting 1.12 crore farmers with MSP of Rs 1.6 lakh crore, the food ministry said on Friday.
The Food Corporation of India (FCI) along with state agencies undertakes procurement of paddy under price support scheme. The Centre has set a target to buy 62.60 million tonnes of rice in the 2022-23 marketing season (October-September).
The FCI had procured 57.58 million tonnes of rice during the 2021-22 marketing season.
According to the food ministry, a total of 52.06 million tonnes of rice was procured up to May 22 of the current kharif marketing season.
As many as 1.12 crore farmers have benefited from the procurement operation. About Rs 1,59,659.59 crore has been paid as minimum support price (MSP) to them, it said in a statement.
The government has fixed MSP of 'common' grade paddy at Rs 2,040 per quintal, while 'A' grade paddy at Rs 2,060 per quintal for the curren