Govt allocates Rs.16 billion for paddy purchasing

The government has allocated Rs. 16 billion to purchase 300,000 tonnes of paddy from farmers during the Maha season, a statement from the Finance Ministry said yesterday.   

The government will be purchasing a kilo of Samba and Keeri Samba Paddy bearing a moisture content of 14 percent at Rs.52 a kilo, and Rs.50 a kilo for Nadu varieties.  

The statement said paddy with higher moisture levels would also be purchased but at lower rates. The purchasing process will be carried out through the small and medium rice mill owners.