FCI procures over 70% wheat of estimated target; surpasses last season’s total purchase
2 min read . Updated: 11 May 2023, 12:12 AM IST
PremiumFCI has set an estimated target of 34.5 MT to procure wheat in the ongoing rabi marketing season started April.
Food Corp of India (FCI) has procured nearly 25.2 million tonne (MT) of wheat in the ongoing 2023-24 Rabi Marketing Season, over 70% of its estimated set target. It procured about 7.5 MT wheat during the same corresponding period last year. With the latest procurement, the nodal agency has surpassed the total procurement of 18.8 MT wheat during the 2022-23 rabi marketing season.
“About 20 Lakh farmers have already benefitted so far from the ongoing wheat procurement operations, with payment of more than ₹470 billion at the minimum support price (MSP) directly credited to their bank accounts. More farmers are yet to benefit since the procurement is continuing," according to a government statement.
FCI has set an estimated target of 34.5 MT to procure wheat in the ongoing rabi marketing season started April. “There is nothing as such a procurement target for FCI. Procurement is open ended, and estimates are meant to plan gunny bags (jute bags used to stuff foodgrains) and arrange finances, so that payments to farmers are not an issue," the agency chairman and managing director Ashok Meena told Mini earlier.
“FCI along with other state agencies are engaged in the procurement operations and the procurement is continuing smoothly in all the procuring states across the country," according to a government statement.
On daily average, more than 200,000 MT wheat is still being procured. Major contributions in the procurement have come from three wheat procuring states of Punjab, Haryana and Madhya Pradesh with procurement of 11.8 MT, 6.2 MT and 6.6 MT respectively.
One of the major factors contributing to the progressive procurement this year is the relaxation in quality specifications of wheat being procured, extended by the central government. This has been granted in view of untimely rains leading to luster loss. This will reduce the hardship of farmers and check any distress sale.
The Government of India has also allowed all the states to open procurement centres at villages and panchayat level and to carry out the procurement through co-operative societies, Gram Panchayats, Arhatias etc. in addition to already existing designated procurement centres for better outreach.
Similarly, rice procurement is also progressing smoothly. A quantity of 36.6 MT of rice in 2022-23 (October-September) kharif marketing season has been procured so far and another 14 MT is yet to be procured.
The combined stock position of wheat and rice in the central pool has reached 58 MT, including 31 MT wheat and 27 MT rice. This puts the country in a comfortable position to meet its requirement of food grains. With the ongoing procurement of wheat and rice, the food grains stock levels are on rise in the government granaries, ensuring food security to entire nation.