The central government has procured almost half of the target fixed for wheat procurement in Rabi marketing season 2023-24. That is, this year the purchase of wheat at the minimum support price (MSP) can be considered good as compared to last year. Last year, the government could not buy even half of the target wheat. According to the Food Corporation of India that is FCI, from April 1 to 24, 171 lakh metric tonnes of wheat has been purchased across the country on MSP. While this time a target of 341.50 lakh metric tonnes has been set. There are 10 quintals in one metric ton. Looking at the speed with which the procurement is going on, it seems that the target will be met. Because in many states the purchase will continue till June.
If this purchase is completed then the center will have sufficient stock of wheat. Despite selling 33 lakh tonnes of wheat at concessional rate by FCI by bringing open market sale in January this year, there was a stock of 83.45 lakh metric tonnes as on April 1, which is more than the buffer stock norms. On April 1, the buffer stock of wheat is only 74.60 lakh tonnes. The government has heaved a sigh of relief due to the good pace of government procurement of wheat, but the manner in which the entire government machinery was used to bring down the price of wheat has definitely caused huge losses to the farmers.
Good purchase of wheat in Madhya Pradesh
For the time being, let us return to the government procurement data. Madhya Pradesh is at number three in terms of wheat procurement on MSP. So far 42,88,926 metric tonnes of wheat has been purchased here. In this case, Uttar Pradesh is at number four, where 86,030 metric tonnes of wheat has been purchased so far. Although according to UP it is very less. Because it is the largest wheat producing state of the country. Whose share in total production is about 35 percent. Rajasthan is at number five in terms of purchase. So far 25073 metric tonnes of wheat has been purchased here.
Farmers expect good price
Farmers of some states are only selling poor quality wheat to the government. While some farmers are selling some part of their wheat production in view of the expenditure incurred for sowing the crops of Kharif season. Right now many wheat farmers have stores. Because they are hopeful that like last year, the price of wheat will increase this year too. After completion of government procurement of wheat in June, the price is expected to increase. The government has estimated 1121.82 lakh metric tonnes of wheat production in Rabi crop season 2022-23. About 1050 lakh metric tonnes of wheat is consumed every year in India. That means 2.87 lakh tonnes is required everyday.
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