FCI wheat procurement hits 26.6 mn tonnes, surpassing last year's purchase

The Food Corporation of India (FCI) has procured 26.6 million tonnes of wheat during the current Rabi Marketing Season (RMS) 2024-25, surpassing last year's figure of 26.2 million tonnes, the government said on Wednesday.

The procurement, which began earlier than usual this year, has benefited more than 2.2 million farmers who received about Rs 61 lakh crore directly in their bank accounts as payment at the Minimum Support Price (MSP), it said in a statement.

The government had set the MSP for wheat at Rs 2,275 per quintal for the current season (April-March).

States like Uttar Pradesh and Rajasthan showed significant improvements in their wheat procurement, the statement said.

Uttar Pradesh procured 9,31,000 tonnes compared to 2,20,000 tonnes last year, while Rajasthan achieved 12 lakh tonnes, up from 4.38 lakh tonnes in the previous season.

In addition to wheat, the government reported that paddy procurement during the 2023-24 Kharif Marketing season exceeded 77.5 million tonnes, benefiting more than 10 million farmers with payments of over Rs 1.74 lakh crore.

The substantial procurement has boosted India's rice stock to over 49 million tonnes, surpassing both the buffer stock norms and the country's annual requirement of around 40 million tonnes.

The government said this achievement underscores the robustness of FCI's procurement and storage infrastructure, crucial for maintaining food security in the country.