Wheat procurement by India government agencies exceeds target for 2018-19

Procurement of wheat by the government agencies in India stood at 33.26 million tonnes as on May 21, exceeding the targeted 32 million tonnes for the 2018-19 marketing year (April-March) and up 16 percent from last year, the food ministry said.

Purchases have been up in Punjab, Haryana, Madhya Pradesh and Rajasthan on higher market arrivals with the country witnessing a record wheat output.

As per the latest estimates by the Agriculture Ministry, wheat production is hitting a new high of 98.61 million tonnes (last year, it was 98.51 million tonnes) against the targeted 97.50 million tonnes.

In Punjab, the agencies have procured about 12.61 million tonnes of the total arrivals of 12.66 million tonnes, about 8 per cent higher than last year. Similarly in Haryana, the wheat procurement is higher by around 18 per cent at 8.73 million tonnes over last year. The market arrivals have slowed down considerably in these two states indicating that the procurement process was in final stages.

In Uttar Pradesh and Madhya Pradesh, the daily market arrivals are around 100,000 tonnes. In UP, the purchases, so far, are higher by around 71 per cent over last year.

Procurement in UP stood at 3.6 million tonnes (2.1 mt). In MP, the procurement has exceeded the targeted 6.7 million tonnes for the year.

Shekhar Ghosh is consulting editor, Indoasiancommodities.com. He has edited and written for publications like Business India, Business Standard, Business Today, Outlook and many other international publications. He can be reached at shekhar.ghosh@indoasiancommodities.in.

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