Centre's wheat procurement at MSP rises to 3-yr high
This procurement is from a total 40.42 MT that arrived in the markets of the main wheat producing states across the country. The remaining portion has been bought by millers and traders at a price that cannot be less than the Minimum Support Price (MSP) paid by the government.
A small quantity of wheat is still reported to be reaching the mandis in Uttar Pradesh and Rajasthan. The procurement is considered sufficient for distribution through the Public Distribution System and market intervention schemes to keep prices under control.
At present, the Food Corporation of India (FCI) has wheat stock of 36.65 MT which exceeds the buffer requirement of 27.58 MT for July 1, the official said.
The top four states contributing to wheat procurement include Punjab (11.93 MT), Madhya Pradesh (7.77 MT), Haryana (7.14 MT) and Rajasthan (2.02 MT).
The agriculture ministry has estimated wheat production at a record 117.5 MT during the 2024-25 crop year (July-June), an increase of 3.7 per cent over the previous year.
The average mandi prices on Thursday across key producing states were: Punjab (Rs2,475/quintal), Madhya Pradesh (Rs2,521/quintal), Rajasthan (Rs2,465/quintal) and Haryana (Rs2,425/quintal). The modal retail price of wheat was Rs28/kg.
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