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HindustanTimes Mon,20 Oct 2014

Wheat procurement increases by 10%

Press Trust of India  New Delhi, June 16, 2014
First Published: 12:17 IST(16/6/2014) | Last Updated: 12:20 IST(16/6/2014)

Wheat procurement in the marketing year 2014-15 (April to March) has increased by 10%, to 27.6 million tonnes (MT), so far, on account of higher lifting from Punjab, Haryana and Madhya Pradesh.

According to the latest official data, the total wheat arrival in the grain markets to date is about 34-million tonnes (MT). Of this, 27.6 MT has been lifted by the Food Corporation of India (FCI) and other state agencies.

The remaining 6.4 MT has been lifted by private traders and flour millers. In corresponding period last year, the total wheat arrival was about 28.7 MT, of which the FCI and other state agencies had procured 25 MT and the rest private players had lifted, an official has said here on Sunday.

He added that the procurement for the current season had almost been completed. Wheat procurement in the largest producing state, Punjab, was up 8%, to 11.9 MT, so far, compared with 11 MT in the corresponding period last year. The lifting of wheat in the neighbouring Haryana was up 16%, to 6.49 MT from 5.6 MT in the period under review.

In the same period, the procurement in Madhya Pradesh was up by 18%, to 7.1 MT from 6 MT. The government this year had made arrangements to procure 31 MT of wheat in the current marketing year.

Last year, procurement was 25.4 MT. In the second advance estimate by the agriculture ministry, the government has estimated production will to rise to a record 95.60 million tonnes in crop year 2013-14 against 93.51 million tonnes in the previous year.

In October last year, the government had raised the minimum support price (MSP) for wheat by 50 (to 1,400 per quintal) to encourage farmers to cover more area under the crop in the ongoing rabi season. The MSP is the rate at which the government buys the grain from farmers. The crop’s sowing begins in October and harvesting starts from April onwards.

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