FCI and State Agencies Procure Over 120 LMT of Paddy in Punjab, Benefiting 6.58 Lakh Farmers

The Food Corporation of India (FCI) and state procurement agencies in Punjab have collectively procured 120.67 lakh metric tons (LMT) of paddy as part of the Kharif Marketing Season (KMS) 2024-25. This significant procurement drive has directly benefited 6.58 lakh farmers, with the minimum support price (MSP) purchases totaling approximately Rs 27,995 crore.

As of November 8, 2024, Punjab's mandis have received a total of 126.67 LMT of paddy. Government agencies, including the FCI, have acquired the majority of this yield at an MSP rate of Rs 2,320 per quintal for Grade 'A' paddy, as set by the Government of India.

The state government has already approved 4,743 millers out of 4,839 applicants to manage the shelling process. This year, the procurement efforts have been operating from October 1, utilizing 2,927 designated mandis and temporary collection yards to ensure efficient transactions for Punjab’s farmers.

The central government has set a procurement target of 185 LMT for the 2024-25 KMS in Punjab, with operations expected to continue through November 30. The pace of paddy lifting is strong, with the daily volumes cleared exceeding new arrivals, ensuring a smooth and organized process for farmers and stakeholders involved.