Punjab wheat season concludes with 130 LMT procured, 10.8 LMT by traders
Emphasising that the entire wheat stock that arrived in the grain markets had been procured, the minister said the purchase of wheat by traders saw an upswing this time. "Lifting is on and 104.51 LMT has been moved. The remaining stocks of 14.72 LMT will be lifted from the mandis in the next 6-7 days. A total of Rs 28,571 crore had been credited into the accounts of over seven lakh farmers," he said.
"Fulfilling its promise, the state govt procured every single grain of the 130.03 LMT wheat that arrived in the grain markets.
In order to ensure smooth and hassle-free procurement, the state govt had set up a total of 2,885 mandis and purchase centres, out of which 1,864 were regular and 1,021 were temporary centres," he added.
"The lifted stocks have been moved to storage points and open plinths. The direct delivery to the Food Corporation of India (FCI) has started and 18.27 LMT wheat has been handed over to it," said Kataruchak.
Punjab set a target of 124 LMT but made preparations for procuring up to 132 LMT at the start of the season.
Last year's total procurement figure was 130 LMT, which included 123 LMT by procurement agencies and 7.18 LMT by private traders.
The Punjab govt secured a Rs 28,000 crore cash credit limit (CCL) for wheat procurement, ensuring that farmers receive payments within 24 hours of selling their crops at the minimum support price (MSP). The state govt designated 1,864 mandis and procurement centres for wheat procurement, with an additional 700 temporary mandis.
RECORD PURCHASE BY TRADERS
Private traders emerged as active buyers of wheat from Punjab farmers this season, accounting for 8.30% of the total procurement, driven by the expectation of year-end profits. This marks a shift from previous years when private trade largely avoided Punjab's wheat market due to the state's high 8.5% procurement levies, which include a 3% market fee, a 3% rural development cess, and a 2.5% commission for arhtiyas.
This taxation is significantly higher compared to the approximately 3% procurement levies in most other key wheat-producing states. Earlier, flour mills usually bought additional stocks of wheat from the FCI from time to time, but wheat production dipped over the past two years. This helped the traders sell wheat at a premium, and they are expecting a similar trend this season too. Some farmers have also decided to hold back their stocks this time.
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