Private traders to double wheat purchase in Punjab this year
The depleting foodgrain stock with the Government of India may see the private purchase of wheat finally taking off from mandis when the wheat procurement starts by the end of this week.
For years, the private purchase of wheat from the mandis is bare minimum and over 95 per cent stock is bought by government agencies. But this year, with the foodgrain stock of the Centre hovering close to the minimum buffer stock limit and there is apprehension that the stock to be auctioned through the OMSS will not be sufficient to meet the private traders’ demand, private buyers are expected to participate “enthusiastically” in the wheat purchase.
Secretary, Food and Supplies, Punjab, Vikas Garg, said as compared to 4.50 lakh metric tonnes of wheat purchased by private traders, we expect it to go up to 10 lakh metric tonnes. “Our field reports suggest that big food companies have approached commission agents in many mandis, asking them to buy large quantities of wheat on their behalf,” he said.
A bumper harvest is expected this year. This comes after two years of low wheat production, which has dwindled the wheat stock in the Central pool to 9.7 million tonnes as on March.
Source Link: https://www.tribuneindia.com/news/punjab/pvt-traders-to-double-wheat-purchase-this-year-608435
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