The arrival of wheat is likely to increase further in the following days, with an estimated arrival of 25,000 MT each day. While crop arrivals have surged, the four state-run procurement agencies have sprang into action, procuring 64% of total deliveries so far.
Pungrain, Punjab Warehouse Corporation, Punsup, and Markfed, four government entities, have jointly purchased 3,171 MT of wheat, with 2,534 MT purchased on Saturday alone. However, the Food Corporation of India (FCI), the Central Government procurement agency, has not begun the procurement.
This season, private purchasers acquired a total of 62 MT of produce. Punjab Warehouse Corporation purchased the most, 847 MT, followed by Markfed (841 MT), Pungrain (835 MT), and Punsup (648 MT).
According to mandi board officials, they estimate about six lakh metric tonnes of wheat to arrive this season. According to Chief Agriculture Officer Dr Jatinder Singh Gill, harvesting will peak by the end of next week.
"With farm machinery available in abundance, the total harvesting season is merely two weeks, as farmers try to harvest the crop as early as possible, considering weather conditions," he added.
The Uttar Pradesh cabinet has approved the wheat procurement strategy for 2023-2024, approving a minimum support price (MSP) of Rs 2,125 per quintal and setting a target of purchasing 60 lakh metric tonnes of wheat this fiscal year.
