The Ministry of Food, Agriculture and Livestock (Minfal) has issued a notification for minimum indicative price of super basmati rice (paddy) per 40 kg at Rs 1,500, and basmati 385/2000 rice (paddy) per 40 kg at Rs 1,250. The decision was taken in an ECC meeting, which was followed by the decision of the Economic Monitoring Committee.
Passco has been assigned to purchase rice (paddy) at these rates. Minfal has already given mandate to Passco for procurement of Irri-6 rice at the price of Rs 700 per 40 kg. Now, with the issuance of this Notification, Passco will purchase total one million tons rice paddy of Irri-6, Super Basmati and Basmati 385/2000 varieties for the current season. The decision will further help in stabilising rice (paddy) prices.