Major procurement of wheat to start from March 25 with MP

By Dipak K Dash

The major procurement of wheat will start from March 25 with Madhya Pradesh scheduled to commence the purchase of the winter crop. In MP, which is the second largest producer of wheat after Punjab, 15 lakh farmers have registered for the procurement and the state has set the target to buy 70 lakh tonnes during the Rabi Marketing Season (RMS).
Officially the 2023-24 RMS for wheat commences from April 1. The procurement of wheat at the minimum support price (MSP) will also start in Punjab, Haryana, Rajasthan and Uttar Pradesh from April 1.

The government has set the target to procure 341.5 lakh tonnes of wheat from 10 wheat procuring states during the RMS, which is over 90% higher than actual procurement of 189 lakh tonnes of wheat during previous RMS 2022-23.
The Centre is looking at better procurement of wheat this year to have enough stock to meet the requirement under the food security scheme and to meet other social welfare schemes. The wheat stock of Food Corporation of India (FCI) is likely to touch barely 96 lakh tonnes by April 1 against the buffer norm of 76 lakh tonnes.
The FCI also needs enough stock for any future market intervention such as open sale of wheat in case of exorbitant rise of prices.
This year, the FCI has sold 28 lakh tonnes of wheat in the open market through e-auction to bulk buyers such as flour millers and food companies to cool down the prices

This article has been republished from The Times of India.