Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The government has set a minimum support price for paddy. The Cabinet meeting on October 16 has fixed the support price of coarse paddy at Rs 2,967 per quintal for the financial year 2079/80. This price is 215 rupees higher than last year.
Similarly, the price of medium paddy has been fixed at 3 thousand 128 rupees per quintal. This price is more than 226 rupees compared to last year. For the last fiscal year 2078/79, the government had fixed the minimum support price of coarse paddy at Rs 2,752 and medium paddy at Rs 2,992 per quintal.
Prakash Kumar Sanjel, the spokesperson of the Ministry of Agriculture, said that according to the minimum support price, rice will be purchased from food and trading companies.
Similarly, he said, there is a budget arrangement of 33 million rupees to purchase paddy through agricultural cooperatives at the minimum support price. “A notification will be published soon for the purchase of paddy at the minimum support price through the Prime Minister’s Agriculture Modernization Project,” Sanjel said.
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