India’s wheat and rice procurement has witnessed an upward progression. A press release on the statistics of procurement was release on May 24, 2024.
Wheat Procurement
As of now, the government has procured a record 262.48 lakh metric tonnes (LMT) of wheat, surpassing last year’s total procurement. This operation has benefited over 22.31 lakh farmers with a Minimum Support Price (MSP) payout of Rs. 59,715 crore.
Major wheat-producing states like Punjab, Haryana, Madhya Pradesh, Rajasthan, and Uttar Pradesh have significantly contributed to the record procurement. Punjab leads the pack with 124.26 LMT, followed by Haryana (71.49 LMT), Madhya Pradesh (47.78 LMT), Rajasthan (9.66 LMT), and Uttar Pradesh (9.07 LMT).
Rice Procurement
While wheat procurement shines, rice procurement for the Kharif Marketing Season (KMS) 2023-24 is also progressing well. The government has procured 728.42 LMT of paddy, equivalent to 489.15 LMT of rice, from 98.26 lakh farmers. The total MSP outflow for paddy procurement stands at approximately Rs. 1,60,472 crore.
This robust procurement ensures a comfortable buffer stock of food grains. With a combined wheat and rice stock exceeding 600 LMT in the Central Pool, the country is well-positioned to meet requirements under government schemes like the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) and other welfare programs, besides market interventions.
