India’s Wheat Procurement Surpasses Last Year’s Total Amount with Over 20 Lakh Farmers Benefitting.

Wheat procurement during the current Rabi Marketing Season (RMS) 2023-24 has reached a total of approximately 252 Lakh Metric Ton (MT) as of May 9th, 2023. This amount is significantly higher than the corresponding date during the previous RMS in 2022-23, with an increase of 75 Lakh MT. Notably, the current wheat procurement figure has already surpassed the total procurement amount from last year, which was 188 LMT. More than 20 lakh farmers have benefited from this procurement, with an MSP of over Rs. 47,000 crores.

As of May 9th, 2023, the wheat procurement for the current Rabi Marketing Season (RMS) 2023-24 has reached approximately 252 Lakh Metric Ton (MT). This marks a significant increase of 75 Lakh MT compared to the same date during RMS 2022-23. Additionally, the current wheat procurement amount has already exceeded last year’s total procurement of 188 LMT. Over 20 lakh farmers have benefitted from this procurement, receiving an MSP of more than
The ongoing wheat procurement operations have already benefited around 20 lakh farmers, who have received payments of over Rs. 47,000 crores at MSP.

The payment was directly credited to their bank accounts. Since the procurement is still ongoing, more farmers are expected to benefit in the future. On average, more than 2 lakh MT of wheat is being procured daily. The states of Punjab, Haryana, and Madhya Pradesh have made a significant contribution to the procurement, with 118.68 LMT, 62.18 LMT, and 66.50 LMT respectively.

In order to expand outreach and accessibility, the Government of India has granted permission to all states to establish procurement centers at the village and panchayat level. The procurement of rice is proceeding without any hindrances. As of May 9th, 2023, a total of 366 LMT of rice has been procured during the Kharif crop of KMS 2022-23, with 140 LMT remaining for procurement. Additionally, a projected 106 LMT of rice is expected to be procured during the Rabi crop of KMS 2022-23. This high level of stock puts the country in a favorable position to meet its food grain needs. Moreover, with the ongoing procurement of both wheat and rice, the levels of food grain stocks are increasing, ensuring food security for the entire nation.