New Delhi: The Food Corporation of India (FCI) has successfully procured 266 lakh metric tonnes of wheat during the current Rabi marketing season 2024-25, exceeding last year’s figure of 262 lakh metric tonnes, bolstering the nation’s foodgrain sufficiency, announced the Ministry of Food and Public Distribution on Wednesday.
Over 22 lakh Indian farmers have benefited, receiving Rs 61 lakh crore directly credited to their bank accounts for wheat purchased at the Minimum Support Price (MSP).
Wheat procurement under MSP typically begins on April 1 each year; however, this year, it commenced about a fortnight earlier in most states for the convenience of farmers.
The achievement underscores the government’s steadfast commitment to safeguarding farmers’ interests and ensuring food security nationwide, according to an official statement.
Provisional data from various states indicates significant improvements in wheat procurement quantities, with Uttar Pradesh recording 9.31 lakh metric tonnes (LMT) compared to 2.20 LMT last year, and Rajasthan achieving 12.06 LMT, up from 4.38 LMT.
This substantial wheat procurement has facilitated a consistent supply of foodgrains to the Public Distribution System (PDS).
The entire procurement process has played a crucial role in meeting the annual requirement of approximately 184 LMT of wheat under various welfare schemes, including PMGKAY, the Ministry noted.
For the Rabi Marketing Season 2024-25, the Central government set a Minimum Support Price (MSP) of Rs 2,275 per quintal for wheat, ensuring farmers receive fair remuneration.
Farmers also have the option to sell their produce in the open market if they find better prices, promoting a competitive market environment.
The assurance of MSP coupled with the flexibility to sell in the open market has collectively enhanced income security for farmers, the statement highlighted.
In addition to wheat, during the Kharif Marketing Season 2023-24, paddy procurement for the central pool surpassed 775 LMT, benefiting over one crore farmers with disbursements exceeding Rs 1.74 lakh crore directly to their bank accounts for MSP purchases.
With current rice stock levels exceeding buffer stock norms and annual requirements, the country maintains robust food security.
Furthermore, procurement for the upcoming Kharif Marketing Season 2024-25 is anticipated to commence in October 2024, as per the statement.
