India allows early wheat procurement by states to avert distress sale by farmers, harvest not impacted by rain
Centre has allowed an early procurement of wheat procurement by states to avert the possibility of any distress sale by farmers. Despite the pre-monsoon rains increasing moisture content in the rabi crop, government sources have maintained that the procurement cycle is on track and there hasn’t been any adverse climatic impact on wheat harvest or supply so far.
While government sources indicated that wheat procurement in Madhya Pradesh will begin from March 25 as the harvest has already begun, procurement in Punjab and Haryana is slated to begin from April 1. The government is expecting a wheat production of 112.82 million tonne in 2023-24, 4.44 million tonne higher than last year.
Having already procured over 93 percent of estimated rice produce, the government has described the current foodgrain situation as “comfortable” as there hasn’t been any report of shrivelled grains of wheat so far.
However, the government will keep an eye on the weather conditions as India approaches the summer season, which had adversely impacted last year’s rabi harvest due to a prolonged heat wave. Last month, Food Corporation of India’s Chairman Ashok Kumar Meena had told CNBC TV18 that any decision on relaxing the ban on wheat export will be taken only after this season’s procurement is completed and a comfortable position is reached with respect to India’s food security.
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This season, farmers have a significant impact on the market
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