India Considering Proposal To Hike Intervention Price

In an attempt to pursue more paddy cultivation, India's central government is considering a proposal to raise the market intervention price of rice to 10,000 rupees ($253.49) PMT bringing it in line with the current wheat price.

India's rice marketing year runs from October to September, and the government purchases rice from farmers at state-set intervention prices to run its subsidized rice sale programs.

At present, the intervention price of common grade rice is INR6,950 PMT while that of higher grades is INR7,250 PMT.