Indian Economy News

521.27 LMT rice has been estimated for procurement during the forthcoming KMS 2023-24 (Kharif Crop)

The procurement plans for the Kharif crop ensuring the Kharif Marketing Season (KMS) 2023-24 were discussed at a meeting of State Food Secretaries and Food Corporation of India (FCI) on August 21, 2023, which was led by the Secretary of the Department of Food & Public Distribution (DFPD), Government of India.

In comparison to the previous year's estimations of 518 lakh metric tonnes (LMT), of which 496 LMT were actually bought during the previous KMS 2022-23 (Kharif Crop), a quantity of 521.27 LMT of rice has been estimated for procurement during the upcoming KMS 2023-24 (Kharif Crop).

According to the estimated rice procurement during KMS 2023-24 (Kharif Crop), the top three states are Telangana (50 LMT), Madhya Pradesh (34 LMT), Odisha (44.28 LMT), Uttar Pradesh (44 LMT), Haryana (40 LMT), Madhya Pradesh (34 LMT), Bihar (30 LMT), Andhra Pradesh (25 LMT), West Bengal (24 LMT), and Tamil Nadu (15 LMT).

The expected amount of coarse grains/millets (Shri Anna) that the States will purchase during KMS 2023-2024 is 33.09 LMT, compared to the actual amount of 7.37 LMT that was purchased during KMS 2022-23 (Kharif & Rabi). There are also six minor millets that the States can purchase at the minimum support price (MSP) of Ragi beginning in KMS 2023-24 and for a maximum of three years.

The Indian government has updated the millet distribution period, included interstate millet transportation, added the provision of advanced subsidies, increased administrative charges at 2%, and updated guidelines for making it easier to purchase six minor millets in an effort to increase the amount of millets purchased and consumed. States and UTs were urged to concentrate on acquiring millets, not only for the International Year of Millet (2023), but also for agricultural diversification and improved dietary patterns and nutrition. 

Representatives from Andhra Pradesh, Assam, Bihar, Chhattisgarh, Gujarat, Haryana, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Karnataka, Rajasthan, Kerala, Madhya Pradesh, Maharashtra, Odisha, Punjab, Tamil Nadu, Telangana, Tripura, Uttar Pradesh, Uttarakhand, and West Bengal attended the meeting as principal secretary or secretary of food. The Department of Food and Public Distribution, the Indian Metrological Department, the Department of Agriculture & Farmers Welfare, and the Chairman and Managing Director of the Food Corporation of India were also present at the meeting.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.