Government fixes minimum support price of rice

The government has fixed the support price of rice. As per the decision of the Council of Ministers, a quintal of mota dhan variety will cost Rs 2,967 and the medium rice Rs 3,128 for the fiscal year 2079/80.

The Ministry of Agriculture and Livestock shared this information on Wednesday. The price this year is slightly upped as compared to the last fiscal year.

The government-owned Food Management and Trade Company will purchase the rice as per support price. In the current fiscal year, the Company aims to buying 300 thousand metric tonnes of rice.
Similarly, the government has allocated Rs 330 million for purchasing rice through agriculture cooperatives at support price. However, there is no such provision for Prime Minister Agriculture Modernization Project.

As per the existing work procedure, the agriculture cooperates buying rice at support price would be provided incentive of Rs 112 per quintal.