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Record-Breaking Paddy Procurement in KMS 2022-23: 830 LMT Paddy Procured by June 19th, 2023

The Indian Government's efforts in smoothly executing paddy and wheat procurement operations have proven beneficial for millions of farmers, contributing to their economic well-being and ensuring food security for the nation.

Shivam Dwivedi
Record-Breaking Paddy Procurement: 830 LMT Paddy Procured by June 19th, 2023! (Photo Source: Pixabay)
Record-Breaking Paddy Procurement: 830 LMT Paddy Procured by June 19th, 2023! (Photo Source: Pixabay)

The Government of India has reported smooth progress in its paddy procurement operations during the Kharif Marketing Season (KMS) for 2022-23. As of June 19, 2023, more than 830 Lakh Metric Tons (LMT) of paddy have been procured for the Central Pool under the Minimum Support Price (MSP) scheme. This initiative has already benefited over 1.22 crore farmers, with a total MSP outflow of Rs. 1,71,000 crore directly transferred into their accounts.

To ensure hassle-free operations, the government has made comprehensive arrangements for paddy procurement. Rice delivery against the procured paddy is also underway, with around 401 LMT of rice received in the Central Pool as of June 19, 2023, out of the total 558 LMT equivalent to paddy procurement. Another 150 LMT of rice is yet to be received.

In addition to paddy, the wheat procurement for the ongoing Rabi Marketing Season (RMS) 2023-24 has also been progressing smoothly. The total progressive procurement of wheat for the current season until June 19, 2023, stands at 262 LMT, surpassing the previous year's total procurement by 74 LMT.

This significant increase in wheat procurement has already benefited approximately 21.29 lakh farmers, with a total MSP outflow of approximately Rs. 55,680 crores. Notably, the three leading procuring states in this operation are Punjab, Madhya Pradesh, and Haryana, with respective procurement figures of 121.27 LMT, 70.98 LMT, and 63.17 LMT.

The combined MSP payment to farmers for wheat and paddy procurement this year has reached a substantial amount of Rs. 2,26,829 crore, surpassing the previous year's total payment of Rs. 2,05,896 crore.

The successful procurement of wheat and paddy has resulted in the maintenance of adequate food grain stocks in government granaries. The combined stock position of wheat and rice has reached 570 LMT, ensuring that the country remains well-prepared to meet its food grain requirements.

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