KATHMANDU, Oct 12: The government is to procure 15,000 metric tons of paddy at the minimum support price during the current fiscal year. A sum of Rs 675 million has been allocated for it.
The Ministry of Agriculture, Forest and Environment has stated that it is coordinating with the Ministry of Industry, Commerce and Supplies to carry out the procurement at the minimum support price.
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According to the private secretariat of Minister for Agriculture, Forest and Environment Gita Chaudhary, the procurement process has commenced. The minimum support price for monsoon paddy has been set at Rs 3,660 per quintal, while the price for coarse and medium-grade paddy has been fixed at Rs 3,860 per quintal.
Procuring paddy at the minimum support price ensures farmers receive a fair price for their produce and reduces market price uncertainty, adds the Secretariat.