Price Support policy recommended

by Glocal Khabar 332 views0

Kathmandu, July 25, 2018: After holding a discussion among stakeholders on Tuesday, Ministry of Agriculture, Land Management and Cooperatives has recommended minimum support price of paddy to the Ministry of Industry, Commerce and Supplies. It has recommended price support of Rs. 2,331.22 per quintal for thick paddy and Rs 2,460.57 per quintal for medium-size paddy.

The price support of thick paddy and medium-size paddy recommended by the Ministry of Agriculture, Land Management and Cooperatives is 3.73 percent and 0.90 percent, respectively, higher compared to the last fiscal year. Likewise, the Ministry of Agriculture, Land Management and Cooperatives has been recommending minimum support price of paddy to the Ministry of Industry, Commerce and Supplies for the past three fiscal years.

Agriculture Secretary Yubak Dhoj GC said, “We have already forwarded the minimum support price to the supplies ministry. It will then be forwarded to the cabinet after needful evaluation”. The minimum support price has been calculated after validating the investment cost, VAT rate, and production in neighboring countries as well as Nepal.

While many farmers are often forced to sell paddy to middlemen and traders at low prices, price support is expected to aid farmers.

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