Agri Business

Telangana Markfed to buy Rabi maize at ₹3,213 crore

Our Bureau Hyderabad | Updated on April 02, 2020 Published on April 02, 2020

Representative image

After Telangana Chief Minister K Chandrashekar Rao assured farmers that the Government would buy each grain that they produced in the Rabi season, the Telangana State Co-operative Marketing Federation (TS Markfed) has been given a bank guarantee by the State.

The government has decided to buy all the maize directly from the farmers as the market yards across the State have been closed on COVID-19 apprehensions.

The guarantee will help Markfed raise ₹3,213 crore from banks or financial institutions to fund the procurement. The government issued an order on Tuesday, designating TS Markfed as the nodal agency for maize procurement.

The maize area in the State went up by 50 per cent to about 6.11 lakh acres as against the normal Rabi acreage of 4.11 lakh acres. The State expects to produce about 14.59 lakh tonnes of maize this season. The Chief Minister has directed officials to pay the MSP (minimum support price).

The MSP for maize for the 2019-20 agricultural season was put at ₹1,760 a quintal, which is ₹60 higher than the previous year’s price.

The Chief Minister said farmers can sell the produce to traders too, provided they pay the MSP. The farmers will be given coupons, giving them the date and time when their produce would be purchased.

Published on April 02, 2020

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.