India on Wednesday raised the government-mandated price for summer-sown crops such as rice, soybean and cotton as Prime Minister Narendra Modi looks to woo millions of farmers ahead of key state elections later this year.
India has raised the price at which it will buy new-season common rice paddy from farmers by 5.4 per cent to 2,300 rupees per 100 kg, the information minister Ashwini Vaishnaw said on Wednesday after a cabinet meeting chaired by Modi. The paddy buying price has been raised to reflect the rising cost of production, which will encourage farmers to boost production, said B.V. Krishna Rao, president of the Rice Exporters Association of India.
India has imposed a 20 per cent duty on exports of parboiled rice after banning shipments of white rice last year.
India Cent World Production Price Modi Government Haryana Maharashtra BJP
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