Wheat prices will not increase despite unseasonal rains, the government is going to make this special arrangement

Government procurement of fresh wheat crops has started, according to FCI, and about 10,727 tonnes of wheat has been procured in Madhya Pradesh on Monday at minimum support price (MSP).

The impact of the weather on the standing crop is continuously troubling the farmers as well as the common consumers. Last time due to a hot February, the production fell, and this year, after the early onset of summer, unseasonal rains have once again raised concerns about the wheat crop. Last year, wheat fell prey to inflation. The government also banned exports, but prices remained at record levels throughout the year.

This year also the government is not showing any laxity regarding wheat. The government has said that the ban on wheat exports will continue this year as well until the country feels comfortable with domestic supplies to meet food security needs. Addressing a press conference, Food Corporation of India (FCI) chairman and managing director Ashok K Meena said wheat production has not been affected due to unseasonal rains. Even after the rains, the total production of wheat this year will be a record 112 million tonnes.

Procurement started in producing states
Government procurement of fresh wheat crops has started, according to FCI, and about 10,727 tonnes of wheat has been procured in Madhya Pradesh on Monday at minimum support price (MSP). India, the world’s second-largest wheat producer, banned wheat exports in May 2022 as part of measures to control rising domestic prices.

The export ban will continue
Meena told reporters, “As far as the government is concerned to ensure the food security of the common man, the export of wheat will not be allowed. Therefore, till the country feels comfortable about the supply, the export ban on wheat will continue. ”He said that the higher wheat production estimated this year will ensure adequate supply in the Indian market for both government procurement and general consumption.

Wheat production is estimated at 11 crores 21.8 lakh tonnes
According to the agriculture ministry’s second estimate, the government has estimated a record 112.18 million tonnes of wheat production in the 2023-24 crop year (July-June). Meena said that the Ministry of Agriculture has estimated record wheat production keeping in view the ups and downs of the weather. “Rain is a cause of concern as it affects the quality of food grains. The accompanying factor of rain is that the temperature also drops. Low temperature for full maturity is good for wheat crops. Therefore, the estimated quantum of production of wheat is likely to be achieved.

Wheat procurement target of 3 crores 41.5 lakh tonnes
The government’s target of purchasing 3 crores 41.5 lakh tonnes of wheat will also be achieved. Meena said that FCI has started a wheat procurement campaign. On March 27, about 10,727 tonnes of wheat was procured in Madhya Pradesh. He said, “The first arrival has started in Madhya Pradesh. About 10,727 tonnes were procured, however, Monday saw a massive arrival of 5.56 lakh tonnes.” The quantity of procurement was nil on the same date in the same period last year. This year the arrival was very high due to the harvesting of short-duration crops. Procurement centres across the country will remain open. The procurement will start in Punjab and Haryana on April 1.

The targets for the states
FCI aims to procure 13.2 million tonnes of wheat from Punjab, 75 lakh tonnes from Haryana and 80 lakh tonnes from Madhya Pradesh in the marketing year 2023-24 (April-March). Asked whether quality norms would be relaxed for the rain-hit wheat crop, Meena said, “If necessary, a team will be sent to assess the situation. We will take a decision based on the report submitted by the team.” He said the government is confident that the projected record production will be achieved and the procurement target will also be achieved this year.

off sale in the open market
On the sale of wheat from the buffer stock under the Open Market Sale Scheme (OMSS) to check rising prices of wheat and wheat flour, Meena said it has been stopped for the time being as prices have stabilised. Due to the quantity of wheat sold in the market (mandi), prices have come down from Rs 30 per kg in the last week of January to Rs 22-23 per kg now.