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The Chhattisgarh government announced a Rs 300 per quintal bonus on paddy procured at minimum support price, payable for two years. A preliminary government report estimated a 30 percent drought-driven loss in paddy production, and the state targets procuring 6.9 million tonnes.
The bonus encourages farmers to sell paddy to the state, which may tighten open-market rice supply in a drought-hit state and firm local rice prices.
business-standard.comR Krishna DasNov 13, 2017After 168 past bullish policy events, Rough Rice moved a median +0.8% over 5 sessions (57% higher; middle half -1.7% to +2.1%), and -0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
