The food ministry has said that the government has procured 12.21 Lakh Metric Ton (LMT) of paddy upto October 03, in Kharif Marketing Season 2023-24, in the states of Tamil Nadu, Punjab & Haryana. So far benefiting a 99,675 farmers with MSP (Minimum Support Price) value of Rs 2689.77 crore.
The harvesting of kharif paddy, which has been sown on a slightly higher area of 411.96 lakh hectare this year, started last week. Food Corporation of India (FCI) and state agencies have undertaken procurement at MSP to create a buffer stock as well as protect the interest of farmers. The government is targeting to procure 521.27 lakh tonne in the current season as against the actual purchase of 496 lakh tonne in the year-ago season.
The Government policy of procurement of paddy has broad objectives of ensuring MSP to the farmers and availability of food to the weaker sections at affordable prices. It also ensures effective market intervention thereby keeping the prices under check, also adding to the overall food security of the country.
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