FCI procures 266 lakh MT of wheat in Rabi season, 4 lakh MT more than last year

New Delhi [India], July 4 (ANI): The Food Corporation of India (FCI) has procured 266 lakh metric tonnes (LMT) of wheat during the current Rabi Marketing Season (RMS) 2024-25. Last year, FCI procured 262 LMT of wheat during the same season.

The Ministry of Consumer Affairs, Food & Public Distribution stated on Wednesday that more than 22 lakh Indian farmers have benefited from the purchase of wheat during RMS 2024-25.

About Rs. 61 lakh crore has been directly credited to the bank accounts of these farmers immediately upon the purchase of wheat at the Minimum Support Price (MSP), according to an official release issued on July 3.

The provisional figures indicate that the total wheat procurement during RMS 2024-25 stands at 266 LMT, exceeding the RMS 2023-24 figure of 262 LMT and the 188 LMT recorded during RMS 2022-2023.

Among the major wheat-producing states, Uttar Pradesh and Rajasthan have shown significant improvements in their wheat procurement quantities. Uttar Pradesh has recorded a procurement of 9.31 LMT compared to 2.20 LMT last year, while Rajasthan has achieved 12.06 LMT, up from 4.38 LMT in the previous season.

The government normally commences the procurement of wheat under RMS on the 1st of April every year; however, for the convenience of farmers, it was postponed by about a fortnight this year in most of the procuring states, the Ministry said in the release.

The Minimum Support Price (MSP) for wheat this year was declared at Rs. 2275 per quintal.

The MSP is the minimum price for select crops raised in the kharif and rabi seasons that the union government considers remunerative for farmers and hence deserving of support. It acts as a safety net, ensuring that farmers receive a fair price.

“The substantial quantity of wheat procurement has helped FCI to ensure a steady flow of food grains into the Public Distribution System (PDS). This entire procurement process has been pivotal in meeting the annual requirement of approximately 184 LMT of wheat under various welfare schemes, including PMGKAY,” the Ministry of Consumer Affairs, Food & Public Distribution said.

In addition to wheat, during the Kharif Marketing Season 2023-24, paddy procurement for the central pool exceeded 775 LMT, benefiting more than one crore farmers through the disbursement of more than Rs. 1.74 lakh crore to the bank accounts of these farmers towards the purchase of their paddy at MSP, according to the ministry.