Wheat MSP

This is the highest increase by the Narendra Modi-led government since it came to power in 2014

Among other major wheat producers, procurement in Punjab is targeted at 13.2 mt, Haryana at 17.5 mt, and UP at 3.5 mt

Wheat crop is in good condition and the government's procurement would be normal at 300-400 lakh tonne in the 2023-24 marketing year starting March, FCI Chairman and Managing Director Ashok K Meena said on Thursday. "Area sown to wheat is higher than last year. The current condition of wheat crop is very good. Our procurement should be normal at 300-400 lakh tonne in 2023-24," Meena said in a press conference. The wheat procurement had declined last year due to a fall in domestic production and higher exports, he said. Asked whether there would be any impact on wheat crop due to rise in temperature, as forecast by the Met Department, Meena said it is unlikely to have any impact and the short duration crop will not be affected. The government has projected a record wheat production at 112.18 million tonne in the 2023-24 crop year (July-June) as per the second estimate of the agriculture ministry. Last year, wheat procurement for the central pool had declined to 187.92 lakh tonne fr

The government on Friday further reduced the reserve price of FCI wheat to Rs 2,150 per quintal for bulk consumers under the Open Market Sale Scheme (OMSS) in a bid to check prices. According to the food ministry, the reserve price of fair and average quality (FAQ) wheat has been reduced to Rs 2,150 while for Under Relaxed Specifications (URS) wheat to Rs 2,125 per quintal. These rates will be applicable till March 31, the ministry said. State-run Food Corporation of India (FCI) is offloading 25 lakh tonnes of wheat to bulk users under the OMSS. "Reduction in reserve price will help in reducing market price of wheat and wheat products for consumers," the ministry said. States are allowed to purchase wheat from FCI for their own scheme at above proposed reserve prices without participating in e-auction, it added. On February 10, the ministry had done away with freight charges and kept the reserve price of FCI wheat uniformly at Rs 2,350 per quintal to bulk users pan-India through

The government may reduce the price of wheat auction under Open Market Sale Scheme (OMSS) to further bring down prices

So far, two e-auctions have been held, and in them around 920,000 tonnes of wheat has been sold

But won't near MSP, which could make next procurement tough, unless there's bonus

Last year, wheat production had declined to 106.84 million tonne due to heat wave in key growing states

In 2020-21, the country had achieved record wheat output of 109.59 million tonnes

India banned wheat exports in May 2022 with immediate effect as part of measures to control rising domestic prices

Area sown to wheat has increased by less than one per cent to 332.16 per hectare (ha) so far in the ongoing rabi season of the 2022-23 crop year (July-June), as per the agriculture ministry data released on Friday. Sowing of wheat, the main rabi (winter) crop, had begun from October onwards. Maize, jowar, gram and mustard are other major rabi crops. Harvesting of these crops will begin in March/April next year. According to the latest data, farmers have sown wheat in 332.16 lakh ha till January 6 of the current rabi season of the 2022-23 crop year (July-June) against 329.88 lakh ha during the same period last year. Higher coverage was reported from Rajasthan (2.52 lakh ha), Uttar Pradesh (1.69 lakh ha), Maharashtra (1.20 lakh ha), Gujarat (0.70 lakh ha), Chhattisgarh (0.63 lakh ha), Bihar (0.44 lakh ha), West Bengal (0.10 lakh ha), Jammu & Kashmir (0.06 lakh ha) and Assam (0.03 lakh ha), it added. Besides, the area sown to rice has also increased to 21.29 lakh ha till January 6 of

BJP MP Jagdambika Pal on Thursday said the minimum support price (MSP) for rice has increased by 42.64 per cent and that of wheat by 39 per cent in the eight years of the Narendra Modi government. Talking to reporters here, he said the procurement of food grains has increased in the last eight years. "From 2006 to 2014, the total procurement was 1,926 million tonnes and it increased to 2,273 million tonnes in the period between 2014 and 2022," he said. Pal said on the initiative of Prime Minister Modi, a proposal of India was supported by 72 countries and the United Nations General Assembly (UNGA) declared the year 2023 as International Year of Millet. "India is one of the leading producers of millet in the world with an estimated share of around 41 per cent in the global production. It is estimated that the millet market is set to grow from its current market value of more than USD 9 billion to over USD 12 billion by 2025," he said. He also said in the 2021-22 sugar season ...

Government says stock adequate to meet all PDS and PMGKAY needs

Traders are confident that total acreage will be 10-15 per cent more than the previous years

Highest week-on-week numbers since 2017-18; hopes of strong harvest

Food Secretary Sanjeev Chopra said wheat prices have gone up only by 7 per cent in retail. However, he added that if the hike in MSP is considered then the price rise is only around 5 per cent

The government on Tuesday hiked the minimum support price for wheat by Rs 110 to Rs 2,125 per quintal and mustard by Rs 400 to Rs 5,450 per quintal for the current crop year with an aim to boost production and income of the farmers. The decision to increase the MSPs (minimum support prices) was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi. MSP is the rate at which the government buys grain from farmers. Currently, the government fixes MSPs for 23 crops grown in both Kharif and rabi seasons. Sowing of rabi (winter) crops begins in October, immediately after the harvest of kharif (summer) crops. Wheat and mustard are major rabi crops. According to an official release, the CCEA has approved an increase in MSPs for six rabi crops for the 2022-23 crop year (July-June) and the 2023-24 marketing season. Wheat MSP has been increased by Rs 110 to Rs 2,125 per quintal for this crop year from Rs 2,015 per quintal in the 2021-2

According to FCI, the wheat stock in Central pool on April 1 next year is expected to be 11.3 million tonnes, higher than the buffer requirement of 7.5 million tonnes

Neither there is a wheat crisis in the country, nor an adverse impact of export ban of the commodity on farmers' income, agriculture minister Narendra Singh Tomar informed Parliament on Friday. Domestic wheat prices are ruling above Minimum Support Price (MSP) even after the export ban, he said. Tomar, in his written reply to a question in the Rajya Sabha, said the country's wheat production is pegged at 106.41 million tonnes in 2021-22 according to the government's third advance estimate. The government's third wheat estimate is slightly lower than previous year, but the minister said it is above the average annual wheat production of 103.89 million tonnes achieved during the last five years since 2016-17. In 2020-21, the country's wheat production stood at 109.59 million tonnes. According to the minister, "There is no wheat crisis in the country, as India produces wheat more than its domestic requirement." In order to manage the overall food security of the country and to suppo

Food Corporation of India (FCI), nodal agency for procurement and distribution of foodgrains, has purchased 187.86 lakh tonnes of wheat so far at Minimum Support Price (MSP) for Rs 37,852.88 crore.