India. Procurement of wheat may cross 32 MT

19.03.2018

Wheat procurement has started in Madhya Pradesh, Gujarat and Rajasthan with state and centre agencies procuring for central pool and in a fortnight will begin operation in Punjab and Haryana.

Food Corporation of India officials expect procurement figure to cross the target of 32 million tonnes for 2018-19, with state governments ensuring that agencies procure wheat ensuring farmers get minimum support price (MSP) of Rs 1,735 per quintal.

“Wheat procurement has commenced in a few states from March 15 and in the rest of the states we will start from April 1. We will easily be able to procure 31 mt wheat and figures may cross the target. State governments are taking active interest in marketing operations this year,” said an FCI official adding that the procurement exercise will get over by June.

The FCI official said that a major increase in procurement can be expected from Uttar Pradesh and Madhya Pradesh this year.

“FCI and state agencies can easily procure and store 33-34 million tonnes wheat as it has done in the past, but can create challenges of shortage in the market in near term. It can also lead to an upside in wheat prices,” said Tejinder Narang, a grain analyst and former director of state-run trading company PEC.


India Times
 

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