Government Procures 196 million tones wheat, Exceeds annual procurement targets

The marketing year 2024-25, the government has purchased 196 lakh tonnes of wheat so far, exceeding the annual demand of 186 lakh tonnes for all welfare schemes, including the National Food Security Act. The Food Corporation of India (FCI), the government's procurement and distribution agency, is striving to fulfill its target of procuring 310-320 lakh tonnes in the 2024-25 marketing year. Wheat, a major rabi crop, has seen a procurement 11 percent lower than last year, primarily due to decreased purchases in Madhya Pradesh and Punjab. The government's procurement currently stands at 196 lakh tonnes, while the annual requirement for schemes like the Prime Minister's Garib Kalyan Anna Yojana (PMGKAY) is 186 lakh tonnes. 

FCI CMD Ashok K Meena expressed hope for procurement based on wheat arrivals in Punjab and Haryana, anticipating procurement of nearly 200 lakh tonnes from these states alone. In the previous marketing year (April-March), the government procured 261.97 lakh tonnes of wheat, with the bulk of procurement occurring in April-May. 

According to estimates from the Union Agriculture Ministry, wheat production in the 2023-24 crop year (July-June) is estimated at 1,120.19 lakh tonnes, compared to 1,105.54 lakh tonnes in the preceding year, with the possibility of production reaching around 1,150 lakh tonnes due to higher yields than expected in some states. FCI has procured wheat worth Rs 45,000 crore from nearly 16 lakh farmers at the MSP, which is Rs 2,275 per quintal.