Punjab farmers reap twin bounty: Higher yield, robust procurement
Ahead of the Lok Sabha elections in the state, Punjab farmers – the most vocal and organised among India’s cultivators – are a happy lot. Two things are working in their favour at the moment: higher wheat yield, and robust procurement of the key rabi crop at attractive minimum support price (MSP). Unlike in many other states, for Punjab’s land-owning farmers, most of who grow cereals in their own holdings, the current MSP of `2,275/quintal is almost 2.5 times the cost.
With prospects of record output and procurement expected to gather further momentum over the next few weeks, the government’s wheat stocks, which had fallen to the buffer level recently, may soon be replenished.
At 7%, MSP increase for wheat in the current season was the steepest in eight years. Moreover, for farmers in Punjab, which account for almost half of the wheat MSP operations, crop yield has recovered from the low levels seen in the last two seasons by a quarter. The extended winter helped grain formation.
Source Link : https://www.financialexpress.com/market/punjab-farmers-reap-twin-bounty-higher-yield-robust-procurement-3462650/
