The government has started procuring paddy and about 12.21 lakh tonne of the grain has been purchased from farmers at minimum support price (MSP) so far, according to the food ministry.
Paddy worth Rs 2,689.77 crore has been procured from 99,675 farmers in Tamil Nadu, Punjab and Haryana at MSP, the ministry said in a statement on Thursday.
The harvesting of kharif paddy, which has been sown on a slightly higher area of 411.96 lakh hectare this year, started last week.
Food Corporation of India (FCI) and state agencies have undertaken procurement at MSP to create a buffer stock as well as protect the interest of farmers.
The ministry is targeting to procure 521.27 lakh tonne in the current season as against the actual purchase of 496 lakh tonne in the year-ago season.
This article has been republished from The Business Standard