New Delhi, September 28: Government agencies procured paddy worth Rs 10.53 crore at minimum support price (MSP) in just two days in Punjab and Haryana after the procurement operations commenced in both the states on September 26, as per an official statement. What is MSP? How Is It Calculated to Ensure Fair Remunerative Price For Farmers?

The procurement of paddy during the Kharif Marketing Season (KMS) 2020-21 started from September 26, and up to September 27, 5,637 MT having MSP value of Rs 10.53 crore at MSP of Rs 1,868 per quintal has been procured from 390 farmers in Haryana and Punjab, the Union Ministry of Agriculture and Farmers Welfare said in a statement on Monday.

The Centre has allowed five states to procure 13.77 lakh tonnes of pulses and oilseeds in the current Kharif season (2020-21), said the statement. The five states are Tamil Nadu, Karnataka, Maharashtra, Telangana and Haryana.

The KMS 2020-21 has just begun and the government will continue to procure crops from the farmers at MSP as per its existing schemes like the previous seasons, said the statement.

The procurement of paddy for the remaining states has been allowed to commence from Monday.

Based on the proposal from the states, approval has been accorded to Tamil Nadu, Karnataka, Maharashtra, Telangana and Haryana for the procurement of 13.77 lakh tonnes of pulses and oilseeds for KMS 2020-21, as per the statement.

For the other states/Union Territories, approval will be accorded on receipt of proposals for Kharif pulses and oilseeds and procurement will be made as per the Price Support Scheme (PSS) if market rates go below their MSP, the ministry said.

As per reports, up to September 24, the government through its nodal agencies has procured 34.20 MT of moong having MSP value of Rs 25 lakh, benefiting 40 farmers in Tamil Nadu.

Similarly, 5,089 MT of copra (the perennial crop) having MSP value of Rs 52.40 crore has been procured, benefiting 3,961 farmers in Karnataka and Tamil Nadu against the sanctioned quantity of 95.75 LMT for Andhra Pradesh, Karnataka, Tamil Nadu and Kerala.

The procurement of cotton for the 2020-21 season shall commence from October 1, 2020 and the Cotton Corporation of India (CCI) will start the purchase of FAQ grade cotton from October 1 onwards, as per the statement.

(The above story first appeared on LatestLY on Sep 29, 2020 12:14 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).