India. Wheat procurement campaign has started successfully, which indicates a good harvest
Since March 15, 2.08 million tonnes of new crop wheat have been purchased for the Indian government’s grain stockpile, up 44.4% from the same period last year. The strong sales of wheat by farmers to the stockpile indicate a good harvest that will help replenish depleted stocks and avoid imports.
Wheat purchases for the stockpile are being carried out by the Food Corporation of India (FCI). Currently, it is receiving mainly early varieties of wheat from Madhya Pradesh. The procurement campaign has started successfully and is expected to gain momentum in the coming weeks as crops from major grain-producing states such as Haryana, Punjab and Uttar Pradesh begin to enter the market.
According to official forecasts, India may harvest a record wheat crop for the third consecutive year this year.
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