International BusinessFCI to procure 2.6 million tonnes of paddy from Punjab this season
Food Corporation of India (FCI) would procure 2.6 million tonnes of paddy from Punjab in the ensuing kharif season, as compared to 213,000 metric tonnes it procured during 2008-09.
- State to announce new paddy procurement policy soon - IFCI plans Rs 1,000-cr bond issue - Centre to attract Rs 5,000-cr investment for storage infra - Singapore"s Frasers to manage IIDL"s serviced apartments - No unrestricted imports in agriculture, says Pawar - Govt to ban wheat, non-basmati exports
Officials said FCI has been assigned the target of 20 per cent paddy procurement during this procurement season, while during 2008-09 it procured less than 2 per cent.
According to the officials, paddy is expected in different mandis of the state in the first week of October.
In an interaction with Business Standard, FCI Regional Manager Harish Chander said, “ Out of the total anticipated paddy procurement of 127,000 tonnes by the government agencies in the state, we will procure approximately 2.6 million metric tonnes paddy, which would be 20 per cent of the total procurement.
As compared to the previous year, the state would witness substantial increase in procurement by FCI this season.”