India will buy 30 million tonnes of rice from local farmers in the 12 months starting in October, nearly 13 percent more than the previous year, a government statement said.
While August rains will still largely determine the size of summer-sown crops such as rice, the higher purchase target indicates the government is expecting robust production despite a patchy start to the monsoon season.
India, the world's second-biggest rice producer, buys the grain from local farmers at a fixed price to run its mammoth food welfare programme. Guaranteed prices encourage farmers to produce more.
Read more HERE.
While August rains will still largely determine the size of summer-sown crops such as rice, the higher purchase target indicates the government is expecting robust production despite a patchy start to the monsoon season.
India, the world's second-biggest rice producer, buys the grain from local farmers at a fixed price to run its mammoth food welfare programme. Guaranteed prices encourage farmers to produce more.
Read more HERE.
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