Good News for Rice Farmers, Telangana Government Announces Bonus

The Telangana government has announced a significant benefit for rice farmers during the upcoming Kharif season. Farmers will receive a bonus of ₹500 per quintal for their rice produce. This decision aims to support rice farmers by providing additional financial incentives.

Government Announcement:

The Telangana state cabinet made this decision on Monday. Cabinet Minister Pogula Sriivas Reddy stated that the procurement of rice grown during the Rabi season is currently underway, with over 3.6 million metric tons already purchased at the Minimum Support Price (MSP). The MSP payments are being directly deposited into farmers' bank accounts within three days. Minister Reddy advised farmers not to believe any rumors regarding this scheme. Starting from the next Kharif season, the government will provide a bonus of ₹500 per quintal for rice procurement.

Rice Production in Telangana:

Telangana, rice cultivated on approximately 4.4 million acres. However, due to climate change and inconsistent rainfall, rice production has faced challenges, leading to a decline in yield. The government's bonus initiative aims to mitigate these issues by offering financial support to rice farmers.

Demand for Increased Rice Prices:

According to media reports, Bhumani Ramdas stated that this year, the government has only procured 2.76 million tons of rice so far, which is just 60% of the government's target of 5 million tons. In the open market, private traders offer ₹300 to ₹400 more per quintal for rice compared to the government's procurement price. As a result, farmers prefer selling their rice to private traders in the open market. Ramdas suggested that the state should increase the procurement price to ₹3,000 per quintal to encourage farmers to sell their rice to the government.