Farm Laws Impact: Reliance To Buy 1,000 Quintal Paddy From Raichur Farmers, To Pay More Than MSP

Reliance Retail Limited is going to purchase 1,000 quintals of Sona Masoori Paddy for more than Minimum Support Price (MSP) from the farmers of Sindhanur taluk in Raichur district of Karnataka, reports The Times of India.

The company is offering Rs 1,950 per quintal of Sona Masoori which is Rs 82 more than MSP for the crop set by the government at Rs 1,868. Around 1,100 paddy farmers are going to be benefitted.

Few weeks ago, Reliance signed an agreement with Swasthya Farmers Producing Producing Company (SFPC) to implement the procurement from farmers. The company has stipulated that there should be less than 16% moisture in the crop. And a third party firm will test the quality of produce.

“Once the quality is found to be satisfactory, Reliance’s agents will procure the crop. Currently, there are 500 quintals of paddy stored in the warehouse. We are expecting the purchase to go through anytime now. Once they have procured the crop, Reliance will transfer the money to SFPC online and we will credit the money directly to the farmers’ accounts,” said Mallikarjun Valkaldinni, Managing Director of SFPC.

He added that in order to prevent the tampering of crops at any stage, vehicles used for transporting them will be tracked using GPS.

This development has garnered significance as the farmers from Punjab are protesting against the newly enacted agri-sector reform laws citing fears of corporate overtake of farmlands.