Punjab Procures 60.63 LMT of Paddy, Directly Transfers Rs 12,200 Crore to Farmers’ Accounts

Punjab’s procurement efforts for paddy have reached impressive heights as of October 28, 2024, with a total of 65.75 LMT (Lakh Metric Tonnes) of paddy arriving in mandis across the state. Of this, a substantial 60.63 LMT has already been procured by state agencies and the Food Corporation of India (FCI), underscoring the state’s efficiency in handling the ongoing Kharif Marketing Season (KMS) for 2024-25.

With the procurement season having started on October 1, the state has deployed 2,927 designated mandis, including 1,000 temporary yards, to facilitate smooth transactions. Punjab's farmers have so far received approximately Rs 12,200 crore directly in their bank accounts, ensuring timely financial relief and promoting transparency in payment processes.

The paddy is being acquired at the MSP rate of Rs 2,320 per quintal, set by the central government for Grade 'A' paddy, bringing the current procurement total to a value of Rs 14,066 crore. Over 3,51,906 farmers in Punjab have benefitted from this support, further contributing to rural economic stability.

In support of this season’s operations, 4,145 millers have registered to process and shell the procured paddy and are actively engaged in lifting stock from mandis. Punjab is confidently progressing towards the target of 185 LMT for KMS 2024-25, expected to be met by November's end.

The state’s efficient procurement model, backed by timely payment and MSP support, reflects a strong foundation laid by both state and central agencies in ensuring sustainable agricultural practices for Punjab’s farmers.