New Delhi, Feb 21 (IANS): Paddy procurement in this Kharif season has crossed 700 LMT mark and MSP of about Rs 1,45,845 crore has been paid to farmers, officials said on Tuesday.

According to Consumer Affairs Ministry officials, paddy procurement for KMS 2022-23 (Kharif crop) is progressing smoothly with purchase of over 702 LMT of paddy upto February 20.

Over 96 lakh farmers have already benefited from the ongoing KMS procurement operations with MSP outflow of Rs 1,45,845 crore with transfer of payment directly into farmers' account.

They said that all arrangements are in place for hassle-free procurement operations. Rice delivery against the procured paddy is around 218 LMT in the Central Pool upto February 20. Adequate rice stock is currently available in the Central Pool for meeting the requirements of the country.

For Kharif crop of current KMS 2022-23, a quantity of 765.43 LMT paddy (514 LMT in terms of rice) has been estimated to be procured as against 749 LMT paddy (503 LMT in terms of rice) actually procured during last KMS 2021-22 (Kharif Crop).

The estimated procurement of paddy for Rabi crop of KMS 2022-23 is going to be finalised in the forthcoming Food Secretaries meeting to be held on March 1. With the inclusion of Rabi crop, it is expected that around 900 LMT paddy may be procured during the entire KMS 2022-23.