New farm laws impact: Reliance Retail seals rice deal with Karnataka farmers, to pay above MSP

In the first big transaction between a large corporate entity and farmers since the promulgation of the amended APMC Act in Karnataka, Reliance Retail Ltd has closed a deal for the purchase of 1,000 quintals of Sona Masoori paddy from the farmers of Sindhanur taluk in Raichur district. Reliance is offering Rs 1,950 per quintal of Sona Masoori, which is Rs 82 more than the minimum support price (MSP) for the crop set by the government (Rs 1,868).

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