Wheat purchase by pvt players almost doubled to 6.4 MT so far

Private traders and flour millers have bought an estimated 6.4 million tonnes of wheat so far this year, almost double than what they purchased last year.
According to latest official data, the total wheat arrival in grain markets as on date is about 34 million tonnes (MT). Of this, 27.6 MT have been lifted by the Food Corporation of India (FCI) and other state agencies.
"It is estimated that 6.4 MT of wheat have been lifted by private traders and flour millers so far during the current marketing year (April-March)," an official said.
In same period last year (April-March), the total wheat arrival was about 28.7 MT out of which FCI and other state agencies had procured 25 MT and the rest by private players.

"It appears that private players have purchased the maximum wheat in Madhya Pradesh, as out of total arrival of 9.4 MT, FCI and other state agencies have procured only 7.1 MT and remaining 2.3 MT has been lifted by private parties," the official said.
Uttar Pradesh is also witnessing higher purchase by private players this year as out of 1.62 MT arrived as on date, government agencies have procured 0.4 MT till date and remaining 1.22 MT seems to be lifted by private traders, he added.

Wheat lifting by private parties in Rajasthan stood at 0.4 MT.
However, wheat procurement by government agencies is at par with the arrival. In Punjab, procurement as on date is at 11.9 MT and in Haryana FCI and other state agencies have so far lifted 6.49 MT of wheat.

"I think the political crisis in Ukraine and no clear idea about the crop in Russia and the United States have tempted traders for higher lifting this season," All India Grain Exporters Association (AIGEA) Chairman D P Singh said.
Singh, however, added that India's competitiveness will depend on the exchange rate of dollar to rupee.
The government has fixed the target to procure 31 MT of wheat during the current marketing year. In the marketing year 2013-14 procurement was at 25.4 MT.
In second advance estimate by the Agriculture Ministry, government has estimated wheat production to rise at record 95.60 million tonnes in 2013-14 crop year against 93.51 million tonnes in the previous year.