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Headlines: Reliance Issues Statement, Says Company Has No Plan To Enter Contract Farming

Dispelling the rumours that Reliance Industries Limited is placed to benefit from the three farm reform laws passed by the central government, the conglomerate on Monday said it has no plans of entering the contract or the corporate farming business, and it has never bought agricultural land for corporate farming or contract farming and had no plans to do so in the future as well.In a statement, RIL said it does not purchase food grains directly from farmers, and its suppliers buy from farmers only at the Minimum Support Price (MSP) level. It also clarified that it had never entered into any long-term procurement contracts at low prices, or sought that its suppliers buy from farmers at less than remunerative prices.

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