Wholesale grain market of Kot Kapura, one of the largest grain markets in Punjab, India, where wagons of just-harvested rice are brought to local traders who winnow, dry and grade the rice before bagging it for sale at the government-set price of 19.6 INR/kg or 12 cents/lb. Some 15-20% of the harvest is purchased for use in the Food Corporation of India, which manages the distribution of food to the poor at subsidized prices.
Most of India’s farmers are small landholders, with less than five acres of land. Over 50% of India’s 1.3B people depend on agriculture but earn only 20% of the GDP. By comparison, only 1.5% of the U.S. population is involved in food production. A ten-acre farm in India can bring in about 36 tons of rice, which earns about $8k at the government-set price. India is the largest exporter of rice in the world.
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