Reliance Retail has made a big deal with the farmers association to purchase paddy at a price higher than the MSP.
Reliance Retail, a subsidiary of Reliance Industries (RIL), has signed a deal to purchase 1,000 quintals of paddy from Health Farmers Producing Company (SFPC), a farmers’ organization in Karnataka. The company has offered farmers a price of Rs 1,950 per quintal for gold Mussoorie paddy, which is Rs 82 more than the Minimum Support Price (MSP).
- January 10, 2021, 10:57 PM IST
The moisture in the crop should be less than 16%
Registered agents of Reliance Retail signed an agreement with Health Farmers Producing Company (SFPC) 2 weeks ago. Earlier, this company, which did only oil business, has now started the purchase and sale of paddy as well. About 1100 paddy farmers are registered with this company. According to the Reliance Retail agreement, the crop should have less than 16 percent moisture. The company has offered a price of Rs 1,950 per quintal for gold Mussoorie, which is Rs 82 more than the MSP fixed by the government. Explain that the government purchase has been made at the rate of Rs 1,868 per quintal.
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According to the agreement between SFPC and the farmers, the farmers will have to bear the transport cost to the warehouse of Sindhnore itself along with the sacks to pack the crop. SFPC Managing Director Mallikarjun Valkaladinni said that the third party will test the quality of the paddy kept in the warehouse. After the purchase, Reliance Retail will pay SFPC as per the agreement. After this, SFPC will deposit the money directly into the farmers’ account.
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