June 19, 2012

India's wheat production aids staple procurement up by 34%

Procurement of the essential staple has been boosted by a record production of wheat to increase by 34% to a record 36.73 million tonnes in this year.

The government had purchased 27.32 million tonnes of wheat in the same period of the 2011-12 wheat marketing season (April-March).

Total wheat purchase in this marketing season has already surpassed the government's target of 31.8 million tonnes.

According to the latest government data, wheat procurement as on June 18, 2012, stood at 36.73 million tonnes, while the arrivals stood at 38.97 million tonnes.

Punjab and Haryana have procured nearly 12.82 million tonnes and 8.66 million tonnes of wheat, respectively, in the current season.

Wheat purchase in Madhya Pradesh stood at 8.49 million tonnes this year while in Uttar Pradesh it was at 4.17 million tonnes this year.

Wheat production of India, the world's second-largest producer, is estimated at a record 90.23 million tonnes in the 2011-12 crop year (July-June). The minimum support price of wheat stands at INR1,285 (US$23) per quintal.