Wheat arrival reaches 6 LMT, 2K MT crop remains unsold
A total of 6.46 LMT of wheat arrived at grain markets, with 21,639 MT in the past 24 hours. Of this, 6.44 LMT was procured, leaving 2,388 MT unsold. Government agencies bought 5.95 LMT, private traders 48,444 MT. Pungrain, Markfed, Punsup, Warehousing Corp., and FCI led in procurement. Harvesting nears end, but procurement continues till May 15, expecting 7.5 LMT total. 3.25 LMT shifted to warehouses; 50% remains in markets.
A total of 6.46 LMT of wheat has reached grain markets till Wednesday evening with arrival of 21,639 MT crop in the past 24 hours. Of the total arrival, nearly 6.44 LMT has already been procured. District mandi officials said only 2,388 MT crop was left unsold till today evening.
While the government procurement agencies have purchased a total of 5.95 LMT, the private traders have bought only 48,444 MT so far. On Wednesday, government agencies procured 21,015 MT, while private buyers purchased 833 MT.
The district officials said Pungrain has procured a maximum of 1.32 lakh MT crop so far followed by Markfed with 1.53 lakh MT, Punsup 1.32 lakh MT, Punjab Warehousing Corporation 97,387 MT and Food Corporation of India 40,047 MT.
Even as the harvesting of wheat in the fields is nearly over, the government procurement would continue till May 15. The Mandi Board officials stated as per the estimate a total of 7.5 lakh MT crop would arrive in the mandis this season. They stated that nearly one lakh MT crop would arrive in the markets in the coming few days.
With the lifting of 18,448 MT on Tuesday, a total of 3.25 lakh MT of procured stocks have been shifted to the warehouses. However still 50 per cent of the total 6.44 lakh MT procurement is still lying in the markets.
Source Link: https://www.tribuneindia.com/news/amritsar/wheat-arrival-reaches-6-lmt-2k-mt-crop-remains-unsold-619508
