After passage of farm laws, Reliance becomes first big corporate to ink deal with K’taka farmers to procure rice

Raichur: Since the promulgation of the amended APMC Act in Karnataka, Reliance Retail Ltd has sealed a deal for the purchase of 1,000 quintals of Sona Masoori rice from the farmers of Sindhanur taluk in Raichur district.

Agents registered with the Reliance signed an agreement with Swasthya Farmers Producing Company (SFPC) about 15 days ago.

Swasthya Famers Producing Company (SFPC) primarily trades in oil but it has moved into acquisition and sale of paddy. Around 1,100 paddy farmers have registered with the firm.

Reliance Ltd laid down that there must be less than 16% moisture in the crop, the company is offering Rs 1,950 per quintal of Sona Masoori which is Rs. 82 more than the minimum support price (MSP) set by the government which is Rs.1,868.

The managing director of SFPC, Mallikarjun Valkaldinni asserted that the quality of paddy stored at the warehouse will be tested by a third party and once the quality is satisfactory, agents at Reliance will procure the crop.  He further informed that once the crops are procured, Reliance will transfer the money to SFPC online who in turn will credit the money to the farmers’ accounts.