Rice Procurement Fall To 72.48 Lakh Tones

New Delhi: The Food Corporation of India (FCI) and State agencies have managed to procure 72.48 lakh tonnes (lt) of rice during the current 2007-08 marketing season (October-September) as on Oct 30. According to the Food Ministry, progressive procurement in Punjab so far, at 60.95 lt, is lower than the corresponding 2006-07 figure of 63.69 lt. The current procurement gap is mainly on account of late transplanting of paddy in Punjab and Haryana, which has led to delayed mandi arrivals. The late announcement of a bonus by the Centre has also been a factor in the lower progressive procurement. Meanwhile, the Union Agriculture Minister, Mr Sharad Pawar, and the Finance Minister, Mr P. Chidambaram, are scheduled to meet on Oct 31, to talk about the feasibility of announcing a further bonus over and above the current Rs 50 per quintal. The latter is, in turn, on top of a minimum support price (MSP) of Rs 645 per quintal on common paddy and Rs 675 on grade A varieties for the current season.