Mumbai, 24 May (Commoditiescontrol): India's wheat procurement in the 2024-25 rabi marketing season has surpassed last year's figures, reaching 26.25 million metric tons, announced the government. This robust procurement, initiated in March—earlier than usual—to counter dwindling reserves from a smaller crop last year and increasing welfare programs, reflects proactive measures to bolster food security.
The government has disbursed 597.15 billion rupees to 2.23 million farmers at the minimum support price of Rs 2,275 per 100 kg. Notably, Punjab leads in procurement with 12.43 million tons, followed by Haryana at 7.15 million tons. Madhya Pradesh, Rajasthan, and Uttar Pradesh have contributed significantly to the procurement effort.
Additionally, the government has procured 72.84 million tons of paddy during the 2023-24 kharif marketing season, equivalent to 48.92 million tons of rice, valued at 1.60 trillion rupees. The combined stock of rice and wheat now exceeds 60 million tons, ensuring ample supply for the government's welfare schemes, notably the Pradhan Mantri Garib Kalyan Anna Yojana.
In conclusion, the outlook for wheat appears optimistic, buoyed by India's robust procurement and replenishment efforts. With ample reserves and proactive government intervention, the market can anticipate stability in wheat prices, offering opportunities for both domestic and international stakeholders to navigate market trends effectively.
(By Commoditiescontrol Bureau: 09820130172)
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