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Government Raises Rice Purchase Price For 2016-17

The government has raised the minimum purchase price for common grades of rice to be paid to local farmers by about 4.3 per cent, or Rs 60, to Rs 1,470 ($21.89) per 100 kg, Farm Minister Radha Mohan Singh said on Wednesday.
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Government Raises Rice Purchase Price For 2016-17
New Delhi: The government has raised the minimum purchase price for common grades of rice to be paid to local farmers by about 4.3 per cent, or Rs 60, to Rs 1,470 ($21.89) per 100 kg, Farm Minister Radha Mohan Singh said on Wednesday.

India, the world's second biggest rice producer after China, buys the grain from local farmers to protect them from distress sale and build stocks for welfare programmes.

($1 = Rs 67.15)

© Thomson Reuters 2016



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