India Govt procures 38.6 million tonne rice since Oct, up 13.4% on year.

The central government has procured 38.6 million tonne rice so far in the 2016-17 (Oct-Sep) marketing year, up 13.4% on year. The Centre is buying rice from farmers at a minimum support price of 1,470 rupees per 100 kg. Procurement has been the highest in Punjab, where the government has purchased 11.1 million tonne of the food grain, up 18.2% on year. In Chhattisgarh, 4.7 million tonne rice has been procured so far, up 35.4% on year, and in Haryana, government agencies have bought 3.6 million tonne rice, up 25.2% from a year ago. Procurement has been higher year-on-year in most states as India rice output in 2016-17 (Jul-Jun) is estimated at a record high of 109.15 million tonne.