Wheat procurement crosses 260 LMT mark in Rabi Marketing Season 2023-24
The procurement of wheat during the current Rabi Marketing Season (RMS) 2023-24 has been going smoothly. The progressive wheat supply in the current season up to 30.05.2023 is 262 Lakh Metric Ton (LMT), which has already exceeded last year’s total supply of 188 LMT by 74 LMT. Around 21.27 Lakh farmers have already benefited from the ongoing grain procurement operations with a Minimum Support Price (MSP) outflow of around Rs. 47,000 crores. The largest procurement contribution came from the three contracting states of Punjab, Madhya Pradesh and Haryana with procurements of LMT 121.27, LMT 70.98 and LMT 63.17 respectively.
The main factors contributing to a healthy supply this year were the Indian government granting a relaxation in the quality specifications of wheat affected due to premature rains; opening of village/panchayat-level supply centers; procurement through cooperative societies/ Gram Panchayats/ Arhatias etc. as well as designated procurement centers for better dissemination and authorization to engage FPOs for procurement operations.
The procurement of rice is also running smoothly. A quantity of 385 LMT of rice was purchased up to 30.05.2023 during Kharif harvest of Kharif Marketing Season (KMS) 2022-23 with another 110 LMT still to be procured. Additionally, an estimated 106 LMT of rice was purchased during the KMS 2022-23 Rabi harvest.
The position of the combined stocks of wheat and rice in the central pool is over 579 LMT (wheat 312 LMT and rice 267 LMT) which has placed the country in a convenient position to meet its grain needs.
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