Record-Breaking Wheat Procurement Exceeds 260 LMT in RMS 2023-24, Surpassing Previous Year's Total

The ongoing Rabi Marketing Season (RMS) 2023-24 has witnessed a smooth and successful wheat procurement process. As of 30th May 2023, a total of 262 Lakh Metric Tons (LMT) of wheat have been procured, surpassing last year's procurement of 188 LMT by a significant margin of 74 LMT.

This achievement has brought immense benefits to around 21.27 Lakh farmers, with a Minimum Support Price (MSP) outflow of approximately Rs. 47,000 crores. Notably, the states of Punjab, Madhya Pradesh, and Haryana have made substantial contributions to the procurement, with figures of 121.27 LMT, 70.98 LMT, and 63.17 LMT, respectively.

Several factors have played a vital role in ensuring a healthy procurement this year. Firstly, the Government of India extended a relaxation in quality specifications for wheat affected by untimely rains, enabling the inclusion of a wider range of produce.

Moreover, the establishment of procurement centers at the village and panchayat levels has facilitated easy access for farmers, allowing them to participate in the procurement process conveniently.

In addition to designated procurement centers, the involvement of Co-operative Societies, Gram Panchayats, and Arhatias, as well as permission to engage Farmer Producer Organizations (FPOs), has enhanced outreach and efficiency in procurement operations.

In parallel, the procurement of rice has also progressed smoothly. A substantial quantity of 385 LMT of rice has been procured during the Kharif crop of the Kharif Marketing Season (KMS) 2022-23 as of 30th May 2023. Additionally, 110 LMT of rice is yet to be procured, while an estimated 106 LMT of rice is expected to be procured during the Rabi crop of KMS 2022-23.

With a combined stock position of over 579 LMT in the Central Pool, comprising 312 LMT of wheat and 267 LMT of rice, the country finds itself in a comfortable position to meet its food grain requirements.

This surplus stock ensures stability and enables the government to address any potential fluctuations in demand or supply.