Bhubaneswar: As an agrarian economy, Odisha has embarked on the course of diversifying Agricultural production so as to make the economy more competitive and bring about wealth and prosperity to the farmers.
To augment this effort of the State; there is a need for Price Support System for farmers which will not only boost their confidence to venture into diversified cultivation; but will also provide them the cushion of remunerative price against any distress sale of produce.
Hence, the State Government after careful consideration has approved the provision of Rs 500 crore for five years i.e. from 2023-24 to 2027-28 for implementation of the Price Support Scheme (PSS) by Odisha State Co-operative Marketing Federation Ltd. (MARKFED-Odisha) for procurement of oilseeds and pulses in the state of Odisha on behalf of NAFED.
The Scheme is introduced with the objective to support more than 1500 PACS/ LAMPCS/ RMCs/ FPOs/ WSHGs etc. reaching around 1 Lakh farmers in the next five years to support the beneficiaries and will prevent distress sale.
SLS (MARKFED) facilitates better income opportunities and develops the socio-economic conditions of the small and marginal farmers of the State.
The interest-free loan will be sanctioned by Cooperation Department and shall be released by the RCS to the State Agency OSCMF (MARKFED).
The funds released to MARKFED will be kept in Escrow Account and shall be utilized only for the Procurement of Pulses and Oilseeds within the State of Odisha. It will be refunded by the Agency to the State Government within a stipulated period.
