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India has raised the minimum purchase price of rice to be paid to farmer by 3.7% to 1410 rupees per quintal, said Law Minister Ravi Shankar Prasad.

The revised prices will come into force by the beginning of crop year 2015-16 in July.

India he world’s second-biggest rice producer after China, buys the grain from local farmers to protect them from distress sale and build stocks for welfare programmes

 

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