Wheat procurement may end below 30 million tonnes as process ends in 3 States
Wheat procurement may remain below 30 million tonnes this year, as major contributing states—Madhya Pradesh, Punjab, and Haryana—have ended purchases. Despite a 13.4% year-on-year rise to 29.78 mt as of May 25, procurement is unlikely to improve in Uttar Pradesh. Bonuses in MP and Rajasthan boosted official sales. Wheat production may be revised to over 117 mt.
Wheat procurement is likely to below 30 million tonnes (mt) this year as purchases have ended in three major contributing States —Madhya Pradesh, Punjab and Haryana. Going forward, there is little chance of any major improvement in Uttar Pradesh.
The all-India procurement was 29.78 mt as of May 25, up by 13.4 per cent from 26.27 mt a year ago, which is the highest in the last four years. Madhya Pradesh and Rajasthan governments paid bonus over and above the minimum support price (MSP) of ₹2,425/quintal, attracting more farmers to sell at official purchase centres.
The Agriculture Ministry is expected to soon release the third advance estimates of crops in which wheat production may set for a revision to over 117 mt from 115.43 mt in the second advance estimate released in March.
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Source : The Hindu Business line
