Govt announces paddy bonus of Rs 50 per quintal

Written by fe Bureaus | Updated: Oct 31 2009, 05:25am hrs
To boost paddy (de-husked rice) procurement for the central pool the Cabinet on Thursday announced a bonus of Rs 50 per quintal over and above the minimum support price (MSP). It also cleared a food ministry proposal to enhance the fair and remunerative price for sugarcane to Rs 129.84 per quintal, from the current statutory minimum price (SMP) of around Rs 107.76 per quintal. Officials said the bonus on paddy is aimed at perking up procurement, which till date stood at 76.99 lakh tonne, almost 2% more than the same period last year.