Indian Economy News

Wheat procurement, in full swing, crosses last year’s total procurement figure

Wheat procurement during RMS 2024-25 is progressing smoothly in the major procuring states across the country. A total of 262.48 LMT of wheat has been procured this year in the Central Pool, surpassing last year’s total procurement of 262.02 LMT. During RMS 2024-25, 22.31 lakh farmers have benefited, with a total MSP outflow of US$ 7.19 billion (Rs. 59,715 crore). The major contributions in procurement came from 5 states: Punjab (124.26 LMT), Haryana (71.49 LMT), Madhya Pradesh (47.78 LMT), Rajasthan (9.66 LMT), and Uttar Pradesh (9.07 LMT).

Rice procurement is also progressing smoothly. A total of 728.42 LMT of paddy, equivalent to 489.15 LMT of rice, has been procured directly from 98.26 lakh farmers during KMS 2023-24, with a total MSP outflow of approximately US$ 19.32 billion (Rs. 1,60,472 crore). With this level of procurement, thehavembined stock of wheat and rice in the Central Pool has surpassed 600 LMT, positioning the country comfortably to meet its food grain requirements under PMGKAY and other welfare schemes, as well as for market interventions.

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