PADDY WORTH RS 159,660 CR PROCURED FROM FARMERS
The Business Guardian|May 27, 2023
FCI along with other state agencies undertakes procurement of paddy under the price support scheme at MSP
PADDY WORTH RS 159,660 CR PROCURED FROM FARMERS

Payments worth Rs 159,659.59 crore have been made to as many as 1.12 crore farmers by the centre for having procured paddy at Minimum Support Price (MSP), the Union food ministry said Friday.

Food Corporation of India, the nodal central agency, along with other state agencies undertakes procurement of paddy under the price support scheme (at MSP). Those procured paddy is then milled to make rice and distributed to the public under various food security schemes. Farmers are not legally bound to sell their produce to government agencies but they are free to sell their produce anywhere at any prices they get.

“If the farmers get prices better than the support price from other buyers such as traders/millers etc., they are free to sell their produce to them.”

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