Government sets minimum support price of paddy for current fiscal year

KATHMANDU: The government has fixed the minimum support price of paddy for the current fiscal year (FY 2022/23).

The government has fixed the minimum support price of thick-sized paddy at Rs 2,752 per quintal and the minimum support price of medium-sized paddy at Rs 2,902 per quintal.

The government has directed the Prime Minister Agriculture Modernisation Project to register farmers and cooperatives in order to ensure purchase of paddy from the farmers, RSS further reported.

In the previous fiscal year (FY 2021/22), the government purchased 8,092 metric tonnes of paddy from farmers through cooperatives at the support price.

Likewise, the minimum price of sugarcane has been fixed at Rs 590 per quintal, which is a 8.04 percent increment as compared to the previous fiscal year.

In the FY 2020/21, over Rs 775 million was been released as incentives to the sugarcane farmers of eight districts, RSS reported.

In the previous years, farmers used to complain that the government fixed the support price after their produce were sold out.

The government has been announcing support prices of wheat, sugarcane and paddy to ensure that the farmers get fair price for their produce.