Govt procures 187.8 lakh tonnes of wheat so far at MSP costing Rs 37,852 crore

Food Corporation of India (FCI), the nodal agency for procurement and distribution of foodgrains, has purchased 187.86 lakh tonnes of wheat so far at Minimum Support Price (MSP) for Rs 37,852.88 crore. Wheat procurement starts from April. “Wheat procurement under the central pool in Rabi Marketing Season 2022-23 is going smoothly. Up to June 26, […]

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Punjab starts procurement of ‘moong’ crop at a MSP of Rs 7,275 per quintal

Procurement of summer ‘moong’ (green gram) from farmers at a minimum support price of Rs 7,275 per quintal has started in Punjab, an official spokesperson said. The AAP-led government had earlier announced that it would procure ‘moong’ crop at the MSP. The move was aimed to encourage crop diversification. “Summer ‘moong’ crop is being procured […]

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India in talks to increase Russian oil imports from Rosneft

India is looking to double down on its Russian oil imports with state-owned refiners eager to take more heavily-discounted supplies from Rosneft PJSC as international players turn down dealings with Moscow over its invasion of Ukraine. State processors are collectively working on finalizing and securing new six-month supply contracts for Russian crude to India, reported […]

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Chana procurement in India already exceeds 2.12 million tonnes against a target of 2.9 million tonnes

The government’s procurement of chana (gram), which has a share of more than 50% in the country’s pulses production, has crossed 2.12 million tonnes (mt) in the current rabi season (2022-23) so far, compared to just 0.6 mt in the same period last year. Sources told Financial Express that procurement of chana, which is being […]

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Wheat procurement this year likely to hit a 13-year low; drops by 54% to 18.65 million tonnes

The government’s wheat procurement in the current year has fallen by more than 54% year-on-year to 18.65 million tonnes (mt) till last week. Government’s purchase of wheat by the Food Corporation of India (FCI) and other agencies at the Minimum Support Price may not touch 19 mt against 43.34 mt purchased last year during rabi […]

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Private firms nudging central procurement agencies out in buying more wheat from farmers for exports

The Centre’s wheat procurement has declined by 32 per cent to 69.24 lakh tonnes till April 17 of the current rabi marketing year as private companies are buying grains aggressively for exports. As per the official data, about 69.24 lakh tonnes of wheat has been purchased by the government agencies till April 17 of the […]

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