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Govt's paddy purchases rise by 3 pct to 46.87 lakh tonnes

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Agencies

Posted: Oct 14, 2008 at 1440 hrs IST

New Delhi, October 14: Government's paddy purchases in the country as on Tuesday increased 3.19 per cent to 46.87 lakh tonnes during the 2008-09 Kharif marketing season.

"All-India progressive paddy procurement touched 46.87 lakh tonnes as on today," Food Corporation of India (FCI) Chairman and Managing Director Alok Sinha said.

FCI has procured 87 per cent of the total arrival of 53.97 lakh tonnes as on October 14.

Paddy arrival in the country is lower by 18.21 per cent at 53.97 lakh tonnes in 2008-09, compared with 65.99 lakh tonnes in the year-ago period, he said.

"Paddy arrivals are lower than last year due to expectation of bonus," Sinha noted.

The FCI chairman said procurement at minimum support price as proportionate to the market arrivals is far higher than last year's 42 lakh tonnes.

"With arrivals bound to pick up in the coming days, total rice procurement this year is likely to be as good as last year at 284.44 lakh tonnes of rice," he said.

Officials in FCI said that surplus grain stock will help stabilising prices in the open market, as it is ready to allocate more quantities of grains under the open-market scheme.

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