Nagaland proposes Foxtail Millet to be included in Price Stabilization Fund

In response to surging prices ahead of the general elections, the government has taken decisive steps to curb inflation by broadening the scope of its Price Stabilization Fund (PSF).

According to a government official cited by Mint, wheat and rice have been incorporated into the PSF, following the recent distribution of Bharat atta and rice as part of retail interventions.

The PSF, traditionally utilized to accumulate India’s buffer stock of essential food items and strategically release them during price hikes, has so far included onions, potatoes, and pulses.

In a parallel development, the Centre is contemplating a proposal from Nagaland to incorporate foxtail millet into its state-level PSF, as reported by Mint. This move aims not only to fortify agricultural diversity but also to safeguard the indigenous crop, which faces the threat of endangerment.

This initiative, according to Mint, aims to safeguard this staple yet endangered crop by ensuring its continued cultivation and economic viability. Nagaland, through this initiative, also sought to protect the local crop and support farmers against the backdrop of declining cultivating rates.

Sources from the Agriculture Department in Mokokchung revealed ongoing efforts to promote millet plantation on a large scale in both the district and the state. However, despite encouragement from authorities, response from farmers in Mokokchung District has been tepid thus far.

Reportedly, some farmers in Mokokchung who embraced millet cultivation encountered issues such as bird menace, while others were deterred by the laborious process of dehulling and pounding the grain. In response, the Agriculture Department has stepped in to alleviate these concerns by providing farmers with dehulling machines and establishing a grain grinding mill in the district, simplifying the grain processing procedures.

Despite initial hesitations, there has been a gradual increase in demand for millets, attributed to growing awareness of their health benefits. Although not yet on par with other crops, authorities remain optimistic about the future trajectory of millet consumption.

It is noteworthy that the International Year of Millets was commemorated last year, with districts like Mon, Tuensang, and Phek in Nagaland witnessing significant millet production.

Reportedly, private companies are interested for contract farming looking at the promises of millet farming. Advisor of agriculture, Mhathung Yanthan also said that the GI registration of the millet was underway and the government was focusing on it.

About PSF
Established in 2014-15, the Price Stabilization Fund (PSF) is a Central Sector Scheme with a corpus of Rs 500 crores. In the case of North Eastern States, the State level corpus comprises 75% funds from the Centre and 25% from the State.

The PSF will be used to provide interest-free loans to State Governments/Union Territories and Central agencies to support their working capital and other expenses on procurement and distribution interventions for such commodities.

The objectives of the PSF include promoting direct purchase from farmers/farmers’ associations at the farm gate/Mandi, maintaining a strategic buffer stock to discourage hoarding and unscrupulous speculation, and protecting consumers by supplying such commodities at reasonable prices through calibrated release of stock.

Over the fiscal years FY15 – FY23, the Centre has allocated Rs 27,489 crore towards the implementation of the scheme.

Mokokchung Times