Paddy Procurement would Reach 707.24 lakh tonne in the 2021-22, as per Food Ministry

The Union Food Ministry said on Monday that the Centre has acquired 707.24 lakh tonne of paddy at the minimum support price (MSP) from over 96 lakh farmers throughout the nation in the current marketing year 2021-22. "Around 96.41 lakh farmers have benefited to the tune of Rs 1,38,619.58 crore in MSP," the ministry said in a statement.

It stated a total of 707.24 lakh tonne of paddy has been procured until February 27 of the current marketing year 2021-22.

A total of 186.85 lakh tonne of paddy has been bought from Punjab so far, followed by 92.01 lakh tonne from Chhattisgarh, 70.22 lakh tonne from Telangana, 55.30 lakh tonne from Haryana, and 64.93 lakh tonne from Uttar Pradesh until February 27 of the current marketing year.

The government purchased 895.83 lakh tonnes of paddy at an MSP of Rs 1,69,133.26 crore during the 2020-21 marketing season.

The government purchases goods and services through the state-owned Food Corporation of India (FCI) and state-run organizations.

The government primarily purchases paddy and wheat to provide MSP to farmers and to distribute the grains to needy beneficiaries enrolled under the National Food Security Act through ration stores at heavily subsidized rates.

About Food Ministry:

Infrastructure development, technological advancement, the creation of backward connections, the enforcement of quality standards, and the expansion of domestic and international markets for processed food products are among its primary priority areas.

By fostering a suitable policy environment, including tax and duty rationalization, Ministry functions as a catalyst and facilitator for attracting domestic and foreign investments toward developing big integrated processing capacities. It processes applications for overseas collaborations, Export Oriented Units (EOUs), and other forms of assistance and guidance for aspiring entrepreneurs.