Record Wheat Procurement Boosts Farmer Incomes and Food Security
This year’s wheat procurement has exceeded last year’s, reaching 26.25 million tonnes, benefiting 2.23 million farmers with ₹59,715 crore payments at MSP. Punjab and Haryana lead, while Rajasthan and Madhya Pradesh offer state bonuses. The government targets 37.29 million tonnes but expects around 32 million tonnes. Rice procurement reached 48.92 million tonnes, aiding 9.83 million farmers. India’s foodgrain stock surpasses 60 million tonnes, ensuring welfare schemes and market stability.
This year’s wheat procurement has already surpassed last year’s total of 26.2 million tonnes, reaching 26.25 million tonnes. Punjab and Haryana have been pivotal, with 2.23 million farmers benefiting from ₹59,715 crore in payments at the minimum support price of ₹2,275/quintal. Additionally, farmers in Rajasthan and Madhya Pradesh received ₹2,400/quintal due to state bonuses. The government targets a total procurement of 37.29 million tonnes but anticipates achieving around 32 million tonnes.
Highlights
Wheat Procurement Surpasses Last Year: The 2024-25 wheat procurement season has already surpassed last year’s total of 26.2 million tonnes (mt), with 26.25 mt procured so far.
Key Contributing States: Punjab and Haryana have been the major contributors to this increase in procurement.
Benefit to Farmers: The procurement has benefited 2.23 million farmers, with payments totaling ₹59,715 crore.
Minimum Support Price (MSP): The government is buying wheat at an MSP of ₹2,275/quintal.
State-Specific Bonuses: Farmers in Rajasthan and Madhya Pradesh received ₹2,400/quintal due to a state bonus of ₹125/quintal over the MSP.
Procurement Targets: The government aims to procure 37.29 mt of wheat but expects to reach about 32 mt. Punjab aimed for 13.5 mt but may fall short due to declining arrivals.
Farmers’ Impact: Farmer leader Abhimanyu Kohar highlighted that Punjab and Haryana farmers have helped avoid potential wheat imports for food security.
Infrastructure Recommendation: Kohar suggested improving procurement infrastructure in other states to ensure farmers can benefit from MSP.
Rice Procurement: Rice procurement has reached 48.92 mt, benefiting 9.83 million farmers with payments of around ₹1,60,472 crore.
Adequate Foodgrain Stock: The central pool’s combined stock of wheat and rice exceeds 60 mt, sufficient for government welfare schemes and market interventions.
Conclusion
The exceptional wheat procurement this season underscores the critical role of Punjab and Haryana farmers in bolstering India’s food security. Despite criticism and challenges, their contributions have helped prevent the need for wheat imports. However, the declining arrivals in Punjab indicate the need for improved procurement infrastructure in other states to ensure more widespread benefits of the minimum support price. With the rice procurement also progressing well, India’s combined foodgrain stock is robust, ensuring the fulfillment of government welfare schemes and market stability.
Source Link : https://in.investing.com/news/commodities-news/record-wheat-procurement-boosts-farmer-incomes-and-food-security-4216366
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