Wheat market prices higher than MSP; UP targeting to buy 6 MT
This is 2.44% more than the purchases made during the current season; Punjab will contribute the maximum, at 13.2 million tonnes
Beyond what Sitharaman said about the procurement process in 2021-22, there are several dimensions to this
The previous record in wheat procurement was 38.99 mt achieved in the 2020-21 season
Himachal Pradesh government has procured a record 1,00,657 quintals of wheat during the ongoing rabi marketing season which started on April 15
Experts point to three major initiatives that led to a bumper purchase and laid the foundation for deeper and more structural reforms in the annual grain procurement process
Maximum purchases from Haryana
The Delhi BJP on Friday accused Agriculture Minister Gopal Rai of making "false" statements on wheat procurement by the Food Corporation of India, and challenged him to prove the charges or resign
RBI on Monday cleared a sum of Rs 21,658.73 crore towards Cash Credit Limit (CCL) up to end April-2021 for the procurement of wheat in Punjab during the ensuing rabi marketing season.
Due to rising Covid-19 cases and late crop maturity, wheat procurement in Punjab has been rescheduled few days late from April 10
Procurement from Punjab, which is the hotbed of agitation, is expected to be around 13 million tonnes, slightly more than the actual procurement of this year
Centre plans to monetize assets of Food Corporation of India and Central Warehousing Corp, says union minister Piyush Goyal
If clearing of FCI's outstanding dues and loans does not spur further reforms, they will once again reach current levels in the next 4-5 years, say experts
Also exploring option of a minimum reserve price for traders based on production cost
While the agitating farmers are clamouring for its continuation, the mechanism is a drain on govt resources, with the Centre buying far in excess of what it needs for distribution under PDS
In the procuring States, purchase of 32,12,439 MT of paddy has taken place up to October 9 from over 2.83 lakh farmers with an MSP outflow of Rs 6,065.09 crore
The other components are pooled cost of grains and distribution cost that includes freight, handling, and storage, etc
Wheat marketing year runs from April-March, but bulk of procurement is normally done in the first three months
Lower taxes and a slew of incentives give MP and edge over the traditional wheat bowl. However, Punjab wins hands down on yield
The state has produced 30 million tonnes of wheat this year and also surpassed Punjab in procurement