New Delhi, October 01: The total rice procurement for the 2008-09 season increased by over 15 per cent to touch a record 333 lakh tonnes, from last year’s purchase, according to the Food Corp of India (FCI).
In the corresponding period of the previous marketing season (October-September), the government had bought 288.38 lakh tonnes of rice, the FCI data showed.
Bumper crop output coupled with better support price resulted in higher procurement of rice during the season, said a senior government official.
The Minimum Support Price (MSP) of paddy for 2008-09 was fixed at Rs 850 a quintal for ‘common variety’ and Rs 880 a quintal for ‘Grade A’. Later, the government also announced Rs 50 bonus on the MSP.
According to the data the government’s procurement target of 280 lakh tonnes set for the 2008-09 season, which ended yesterday, was reached in May.
–PTI