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No monsoon worries: Govt to buy 13% more rice from local farmers this year
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  • No monsoon worries: Govt to buy 13% more rice from local farmers this year

No monsoon worries: Govt to buy 13% more rice from local farmers this year

FP Archives • August 5, 2014, 09:06:29 IST
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India, the world’s second-biggest rice producer, buys the grain from local farmers at a fixed price to run its mammoth food welfare programme. Guaranteed prices encourage farmers to produce more.

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No monsoon worries: Govt to buy 13% more rice from local farmers this year

New Delhi: India will buy 30 million tonnes of rice from local farmers in the 12 months starting in October, nearly 13 percent more than the previous year, a government statement said.

While August rains will still largely determine the size of summer-sown crops such as rice, the higher purchase target indicates the government is expecting robust production despite a patchy start to the monsoon season.

India, the world’s second-biggest rice producer, buys the grain from local farmers at a fixed price to run its mammoth food welfare programme. Guaranteed prices encourage farmers to produce more.

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The first month of the June-September season was the driest in five years, raising fears of the first drought since 2009 when the monsoon was the weakest in nearly four decades.

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But rains have picked up since then, easing concerns of a severe drought in a country where half of the farmland lacks irrigation systems.

Reuters

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