Govt procures 38.6 mln tn rice so far in year to Sep, up 13.5% on yr.

Government has procured 38.6 mln tn rice so far in the 2016-17 (Oct-Sep) marketing year, 13.5% higher than a year ago. Centre is buying rice from farmers at the minimum support price of 1,470 rupees per 100 kg. For the next marketing year that starts October, the government has increased the support price of common paddy by 80 rupees to 1,550 rupees per 100 kg. Procurement has been the highest in Punjab, where the government has purchased 11.1 mln tn rice, up 18.2% on year. In Chhattisgarh, 4.7 mln tn rice has been procured so far, up 35.4% on year, while in Haryana, government agencies have bought 3.6 mln tn rice, up 25.2% from the year-ago period. Procurement is sharply down in Tamil Nadu, a major producer of rabi rice, due to a fall in production on the back of severe water crisis in the state. About 141,542 tn rice has been procured in Tamil Nadu so far, down 87.2% from a year ago.