UP raises paddy MSP by Rs 200/quintal

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The Uttar Pradesh government has announced the paddy procurement policy for 2018-19 under which it has set a target of procuring 50 lakh metric tonne of paddy. The state cabinet approved the procurement rate of Rs 1,750 per quintal for the common variety and Rs 1,770 per quintal for grade A variety. This is against last year Last year, the state procured 43 lakh metric tonnes of paddy. An additional sum of Rs 20 per quintal will be paid to the farmers for cleaning of paddy. This amount was Rs 10 earlier. The cabinet approved a scheme for online registration of farmers before procurement to ensure transfer of total amount payable to them through RTGS within 72 hours. Paddy procurement will start from October 1 and will continue till February 28, 2019. Apart from this, the government also announced an incentive of Rs 20 per quintal to the rice mills for processing the paddy in 30 days. A holding charge of R1 per quintal will be levied on mills that fail to process paddy within 45 days. While procurement will continue from October 1 to January 31, 2019 in Lucknow, Chitrakoot, Kanpur, Faizabad, Devipatan and Basti divisions, in Gorakhpur, Azamgarh, Varanasi, Mirzapur and Allahabad divisions it would start from November 1, 2018 to February 28, 2019.