This year, the purchase of wheat government in India has increased by 34 per cent, resulting in a total of 223.6 lakh tonnes. As for the government’s 310 lakh tonnes target, the current speed indicates that this record will be achieved soon. According to Financial Express, there are many important factors behind this unprecedented growth. Farmers receive an attractive minimum support price (MSP) for their production, and have been bonuses by some states. In addition, the government has encouraged the government to sell the best crop farmers this year to sell their crops.
The Food Corporation of India (FCI) and various state government agencies have so far purchased 223.6 lakh tonnes of wheat from major wheat -producing areas. This figure shows a significant improvement than the same period last year. This strong purchase will ensure adequate grain reserves for the public distribution system (BTS), as well as the government’s ability to intervene in the market through the open market sales plan (OMSS).
Read: The number of wheat procurement crosses 180 lakh tonnes, farmers till June 30, MSP.
During the current marketing season (April-June 2024), the arrival of wheat in Mantis is over 297 lakh tonnes, with 84 per cent of them purchased by government agencies. This is much higher than buying 266 lakh tonnes in the same period last year. It is noteworthy that in the last three years, the government’s purchase of wheat in the MSP was less than its recommended goals.
Punjab in Madhya Pradesh
In Punjab this season, 83.8 lakh tonnes of wheat has been purchased so far, with 68.5 lakh tonnes of the previous year. In Haryana, the government has purchased 61.9 lakh tonnes of wheat, and last year, this number is 57.2 lakh tonnes. Madhya Pradesh has increased its procurement target to 70 lakh tonnes and has already purchased 61.4 lakh tonnes of wheat. In Uttar Pradesh, this year’s purchase is relatively slow and only 6.4 lakh tonnes of wheat has been purchased.
However, some informal sanctions have been imposed on the provision of Rakes for moving grain by private traders from the state. MSP from MSP this season at MSP
The best price of wheat in mundies
The current average market prices in the main production states of wheat are as follows: 2427 for a Queest in Punjab and Rs. The total wheat production of the wheat processing industry is estimated at about 1110 lakh tonnes this year, more than 1060 lakh tonnes in the previous year. The Ministry of Agriculture in 2024-25 crop (July-June) targets 1153 lakh wheat production, which shows a 2 per cent increase compared to the previous year. The sowing area of wheat this year has increased to 320 lakh hectares, which is 315.6 lakh hectares of last year and the average sowing area in the last five years.
