With wheat procurement touching an all time high of over 35 million tonne (MT) this year, the government is planning to hire extra storage to stock the grain before monsoon hits north and central India.
FCI along with state agencies has bought record 35.19 MT of wheat in the 2018-19 marketing year (April-March) on the back of bumper crop. These agencies together have foodgrain storage capacity of around 80 MT.
As per the FCI data, total wheat procurement has exceeded the target of 32 MT set for this year in view of record output.
In Rajasthan, wheat purchase was lower at 1.51 MT as against 1.62 MT a year ago.
Although wheat marketing year runs from April-March, the bulk of procurement is done in first three months. FCI and state agencies undertake purchase at the Minimum Support Price (MSP).
As per the third projection, wheat output is estimated at record 98.61 MT in the 2017-18 crop year(July-June).
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)