THIRUVANANTHAPURAM: An amount of Rs 1097 crore is due to Supplyco in respect of paddy stock for the 2022-23 season in the state. 63.78 crore kg of paddy was collected. The government has to pay Rs 1086 crore rupees for that, out of which 708 crore were paid. Paddy was procured at the rate of Rs 28.32 per kg. Of this, Rs 21.83 is borne by the Centre and the remaining Rs 6.49 by the state. The center will release the money only after the rice is procured and distributed through the ration shops as rice and the account is submitted. To avoid this delay, money is given to farmers with the help of banks in the form of PRS loans. However, when the dues came, the banks stopped giving money.

Farmers are disbursed money through a consortium of banks including SBI, Canara and Federal banks. The interest rate is 6.9 percent. Supplyco started the first phase of paddy procurement this month for the period 2023-24.