Rs 155 crores distributed to paddy farmer, informs Supplyco

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Representational Image | Photo: Mathrubhumi

Kochi: After months of uncertainty, Supplyco informed that Rs 155 crores were distributed for paddy procured from farmers across the state.

Supplyco chairman and managing director Sriram Venkitaraman said that they have sorted out issues related to delay in distributing funds through banks.

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A few weeks back, Supplyco signed an agreement with a consortium of banks to allot Rs 700 crores under the paddy receipt sheet (PRS) loan scheme. Though, Supplyco handed over details of farmers, SBI and Federal Bank took some before issuing funds.

On Wednesday, Mathrubhumi issued a report indicating the plight of Paddy farmers in Kerala by pointing out that Supplyco has failed to pay an outstanding amount of approximately Rs 557 crore for paddy procurement until June 6, 2023.

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