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India raises 2014 purchase price for rapeseed

NEW DELHI, Oct 17 (Reuters) - India has raised the price the government must pay to farmers for buying next year's rapeseed to 3,050 rupees ($49.30) per 100 kg, up from 3,000 rupees per 100 kg a year earlier, a government source said on Thursday.

India aims to boost oilseeds production to reduce the import burden to help contain the country's wide current account deficit.

India, the world's largest edible oil importer, imports about $10 billion of edible oils a year -- about 2 percent of its total import costs.

($1 = 61.8625 Indian rupees) (Reporting by Mayank Bhardwaj and Nigam Prusty; editing by Malini Menon)