Harvesting Success: India's Wheat Procurement Soars to New Heights Amidst Record Production

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Harvesting Success: India's Wheat Procurement Soars to New Heights Amidst Record Production

India's wheat procurement by the Food Corporation of India (FCI) has surged to 1.44 million tonnes, marking a 41% increase from the previous year, driven by a record production of 112.02 million tonnes. Major procurement regions like Madhya Pradesh and Uttar Pradesh have seen substantial purchases, aided by bonus incentives offered by states. With procurement percentages rising and ambitious targets set, the stage is set for a bountiful harvest season, reflecting the resilience and efficiency of India's agricultural sector.

Highlights

Record Wheat Procurement: Wheat procurement by the Food Corporation of India (FCI) has reached 1.44 million tonnes, marking a 41% increase compared to the previous year.

Procurement Targets: The Government has set a target to buy 37.29 million tonnes of wheat in the upcoming marketing year, with officials expecting a realistic procurement of 31-32 million tonnes.

Increased Procurement Percentage: The percentage of procurement against arrival this year is 54%, a significant increase from 39% in the previous year.

Major Procurement Regions: Madhya Pradesh leads in wheat procurement with 1.29 million tonnes, followed by Uttar Pradesh, Haryana, and Punjab.

Bonus Incentives: States like Madhya Pradesh and Rajasthan are offering bonuses to incentivize wheat procurement, contributing to increased purchasing activities.

State-wise Procurement: Rajasthan has reported 31,956 tonnes of procurement, while Uttar Pradesh has purchased 38,891 tonnes.

Anticipated Procurement: The Centre estimates to buy significant quantities from Punjab, Haryana, Madhya Pradesh, Uttar Pradesh, and Rajasthan.

Expected Increase in Procurement: Industry officials anticipate a 30% rise in this year's wheat procurement compared to the previous year's 26.2 million tonnes.

Historical Procurement Trends: In the previous seasons, the Centre had procured 26.2 million tonnes in 2023-24 and 18.8 million tonnes in 2022-23 against set targets.

Conclusion

The remarkable increase in wheat procurement underscores India's ability to leverage record production and strategic procurement initiatives to bolster food security. As major wheat-producing states actively participate in procurement drives and incentivize farmers, the trajectory points towards achieving procurement targets and ensuring adequate buffer stocks. This success not only strengthens India's food security but also highlights the government's commitment to supporting farmers and maintaining stability in essential food commodities. With continued efforts and collaboration, India's agricultural sector is poised for sustained growth and resilience in the years to come.

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