India’s rice procurement tops 45 mt but down 7% y-o-y
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Procurement in Chhattisgarh exceeds production
Rice procurement by Food Corporation of India (FCI) reached 45.44 million tonnes (mt) as of March 31 after the 2023-24 kharif marketing season began on October 1. This is 7.3 per cent lower from 49.01 mt procured a year ago. However, rice procurement in Chhattisgarh, which ended on February 4, was 8.3 mt against 5.87 mt last year. It is higher than the production estimate of 7.82 mt, raising questions over the entire purchase mechanism.
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