MENU × BUSINESS
Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
TECHNOLOGY
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
PLATFORM
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
LEADERSHIP
CEO ReviewCompany Review
MAGAZINE
ASIA INDIA
STARTUPS CLIENT SPEAK CONTACT US

The Silicon Review Asia

SFPC has signed a deal with Reliance Retail to sell 1,000 tonnes of Paddy for a price above MSP

SFPC has signed a deal with Reliance Retail to sell 1,000 tonnes of Paddy for a price above MSP

In Karnataka, more than 1,110 farmers have signed an agreement according to which they will be selling their paddy directly to Reliance Retail. The produce will be bought by the arm of Reliance Industry above the predetermined minimum support price (MSP). This deal will be carried out through a popular agro-tech company based in Sindhanur. V. Mallikarjun, Managing Director of Swasthya Farmers Producing Company (SFPC), stated that the company represents 1,100 farmers who are the company’s shareholders, and according to the deal, almost 1,000 tonnes of paddy will be sold to Reliance Retail for almost 1,950 rupees per quintal. Sindhanur town is in Raichur district, and it is almost 420km from the capital city of the state.

The agreement was signed by both the parties according to the newly amended Karnataka Agricultural Marketing Committee (KAPMC) Act, 2020. The new act allows the farmers to sell their products now directly or even to people outside the APMC yards. KAPMC will allow farmers to sell to anyone willing to pay more than the minimum support price fixed by the state. So far, the farmers have sent more than 100 tonnes of paddy to Reliance Retail. The company has a warehouse that is state-run, and the balance will be delivered to them in 10 days. 

YOU MAY ALSO LIKE

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...

Business Travelers to Stay at Singapore’s Changi Airport Bubble

Singapore’s open economy depends heavily on tourism and business. But its vibrant but small economy has been hurting as the circumstances due to...

Countries in Asia-Pacific are marching towards ‘green recovery’ amidst Covid-19 crisis

2020 has been an unforgettable year for many of us. The ongoing Covid crisis has reminded people that it is very important to have an uninterrupted an...

Department of Telecommunication to announce the new schedule for 5G trials

Department of Telecommunications (DoT) is all set to announce the new schedule for 5G trials. The Dot made this decision after being pulled by the par...

RECOMMENDED