Ministry of Agriculture, Land Management and Cooperatives has recommended minimum support price of paddy to the Ministry of Industry, Commerce and Supplies.
The ministry made the recommendation after holding a discussion among stakeholders on Tuesday. It has recommended Rs 2,331.22 per quintal for thick paddy and Rs 2,460.57 per quintal for medium-size paddy.
The Ministry of Agriculture, Land Management and Cooperatives has been recommending minimum support price of paddy to the Ministry of Industry, Commerce and Supplies for the past three fiscal years.
The minimum support price of thick paddy and medium-size paddy recommended by the Ministry of Agriculture, Land Management and Cooperatives is 3.73 percent and 0.90 percent, respectively, higher compared to the last fiscal year.
The ministry had fixed minimum support price of thick paddy at Rs 1,884 per quintal in FY2015/16 and Rs 2,070 per quintal in FY2016/17. Last year, it had fixed minimum support price of thick paddy at Rs 2,247 per quintal.
