Economy India

Wheat procurement crosses 260 LMT mark in RMS 2023-24 till date surpassing last year’s total procurement

Wheat procurement during the ongoing Rabi Marketing Season (RMS) 2023-24 has progressed smoothly. The progressive procurement of wheat in the current season till 30.05.2023 is 262 Lakh Metric tons (LMT) which has already surpassed last year’s total procurement of 188 LMT by 74 LMT. About 21.27 Lakh farmers have already benefitted from the ongoing wheat procurement operations with a Minimum Support Price (MSP) outflow of about Rs. 47,000 crores. Major contribution in the procurement has come from three procuring states of Punjab, Madhya Pradesh, and Haryana with procurement of 121.27 LMT, 70.98 LMT, and 63.17 LMT respectively.
The major contributing factors in healthy procurement this year have been the grant of relaxation by the Government of India in quality specifications of wheat affected due to untimely rains; the opening of procurement centers at village/ panchayat level; carrying out procurement through Co-operative Societies/ Gram Panchayats/ Arhatias etc. in addition to designated procurement centers for better outreach and permission to engage FPOs for procurement operations.
The rice procurement is also progressing smoothly. A quantity of 385 LMT of rice has been procured till 30.05.2023 during the Kharif crop of Kharif Marketing Season (KMS) 2022-23 with another 110 LMT yet to be procured. Further, a quantity of 106 LMT rice has been estimated to be procured during the Rabi crop of KMS 2022-23.
The combined stock position of wheat and rice in the Central Pool is over 579 LMT (Wheat 312 LMT and Rice 267 LMT) which has placed the country in a comfortable position to meet its requirements of food grains. u

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