Wheat procurement dips 64% so far on less arrivals of crop

With delay in harvesting of crop in Punjab and Haryana, the government's wheat procurement has fallen by 64% so far this year at 46.81 lakh tonnes.  

The procurement of wheat, which is grown in Rabi season, stood at 130 lakh tonnes in the year-ago period, according to the latest data of Food Corporation of India (FCI). 

Punjab, which contributed the maximum in the buffer stock last year, has so far procured only 9.14 lakh tonnes against 61.61 lakh tonnes in the corresponding period of last year.  

So far this year, only 9.17 lakh tonnes have arrived in Punjab mandis, against 61.68 lakh tonnes in the same period last year. In Haryana, too, the procurement and arrivals have so far remained lower compared to last year.

The state has procured only 20.72 lakh tonnes tonnes till yesterday as against 48.30 lakh tonnes in the year-ago period. Punjab and Haryana together had procured 165 lakh tonnes of wheat last year, which is nearly three-fourth of the government's total procurement of 225 lakh tonnes.

Besides delay in harvesting, the arrival of wheat in mandies of Haryana and Punjab have been less so far this year as farmers were holding stocks in anticipation of bonus.    

The Centre has announced a bonus of Rs 50 per quintal to wheat farmers over and above the minimum support price (MSP) of Rs 1,120 per quintal. FCI has procured 15.92 lakh tonnes of wheat so far this year in Madhya Pradesh as against 17.92 lakh tonnes in the year-ago period.

The arrivals of wheat in MP has also declined to 19.76 lakh tonnes against 22.55 lakh tonnes in the review period. FCI is targeting to procure 26.2 million tonnes in 2011-12 as the wheat output is estimated to be a record 84.27 million tonnes in 2010-11 crop year (July-June).