Saralnama
India's rice procurement for the 2024-25 season reached 545.22 lakh tonnes by August 31, up from 525.22 lakh tonnes the previous year. This includes about 474 lakh tonnes from the kharif crop and 71 lakh tonnes from the rabi season. The Food Corporation of India (FCI) has allowed traders to buy rice directly from depots at reserve prices to help dispose of surplus stock. Procurement targets were largely met or exceeded in states like Tamil Nadu, Telangana, Andhra Pradesh, and Odisha. The government’s annual rice requirement under various schemes is around 410 lakh tonnes, with a buffer norm of 102.5 lakh tonnes as of October 1. Despite carryover stocks of nearly 380 lakh tonnes of rice and 143 lakh tonnes of rice equivalent from unmilled paddy, surplus disposal remains a concern. The FCI has started selling rice directly to traders at ₹2,800 per quintal, with a minimum purchase of one tonne. Additionally, 52 lakh tonnes of rice have been earmarked for ethanol production, to be sold at ₹23.20 per kg from November. The minimum support price (MSP) for paddy in 2025-26 has been fixed at ₹2,389 per quintal, up from ₹2,320 last year. Some states are paying bonuses above MSP,… (Updated 2 Sep 2025, 20:24 IST; source: link)