Paddy Procurement Exceeds 700 LMT; Over 96 lakh Farmers Benefitted
Paddy procurement for kharif marketing season (KMS: 2022-23) is proceeding smoothly, with over702 LMT of paddy purchased up to February 20. Everything is in place for a smooth procurement process.
Over 96 lakh farmers have already benefited from the ongoing KMS procurement operations, which have resulted in an MSP outflow of Rs. 1,45,845 crores, with payment being transferred directly into farmers' accounts.
Up to February 20, rice delivery against purchased paddy is expected to be around 218 LMT in the Central Pool. Adequate rice stock is currently available in the Central Pool to meet the country's needs.
A quantity of 765.43 LMT Paddy (514 LMT Rice) has been estimated to be procured for the current KMS 2022-23 Kharif crop, as opposed to 749 LMT Paddy (503 LMT Rice) actually procured during the previous KMS 2021-22.
The estimated procurement of Paddy for the Rabi crop of KMS 2022-23 will be finalized at the upcoming Food Secretaries' meeting on March 1, 2023.
Paddy is procured by both the state-owned Food Corporation of India (FCI) and private agencies. The paddy is purchased directly from farmers at the minimum support price (MSP) and used to meet demand under various welfare schemes.
With the addition of the Rabi crop, it is expected that approximately 900 LMT of paddy will be procured during the entire KMS 2022-23.
Paddy is grown in both the summer and winter seasons. However, the Kharif season accounts for 80% of total paddy production in the country.
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