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Government raises rice support price by 4.8 pct – minister

News June 27, 2013

(Blank Headline Received)NEW DELHI (Reuters) – India has raised the base price it will pay farmers for common rice to 1,310 rupees per 100 kilograms from 1,250 rupees last year, Food Minister K.V. Thomas told reporters on Thursday. The government sets a minimum support price (MSP) for key crops to give farmers an incentive to produce supplies needed for welfare programmes that give cheap food to half a billion poor. The MSP also protects farmers from excessive price falls. …

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