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May 26, 2015

 

India's wheat procurement rises close to 2% for 2015-16
 

 

While the quality of India's wheat is expected to be marred by hailstorms and rains in the country, the government has raise its wheat procurement for 2015-16 to 26.47 million tonnes, close to a 2% rise over the previous marketing year.

 

The increased acquisition came despite a lower 30.55 million tonnes of wheat in local markets, compared to 32.94 million tonnes a year ago.

 

According to a source, more than 80% of wheat are of lower qualities and purchased under abated requirements, while the rest are in "average" conditions. The ease in buying specifications is purposed to help farmers burdened by unfavourable weather conditions, and will benefit key producing states including Punjab, Rajasthan, Madhya Pradesh, Haryana, Uttar Pradesh and Chandigarh.

 

Those regions provide a combined percentage of more than 95% of overall wheat production in the country.

 

Currently, the value for shriveled grains are reduced 10% by the Food Ministry.

 

Wheat that suffer luster loss and carries 10% of affected kernels will not receive a value cut. However, the Food Corporation of India (FCI) is permitted to buy such grains at a value cut of US$0.08 if they contain up to 50% (from more than 10%) kernels.

 

Meanwhile, the wheat procurement has been set at a target of 30.05 million tonnes in the 2015-16 marketing year (April-March), compared to 28 million tonnes acquired by the FCI in 2014.


At the moment, Punjab maintains the top spot as the biggest buyer of wheat among all states, at 9.85 million tonnes this year.
 

Madhya Pradesh is second placed with 7.15 million tonnes, followed by Haryana at third with 6.75 million tonnes.

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