July 5, 2012

India's wheat purchases up 36%

India's procurement of wheat rose by 36% to a record 37.85 million tonnes in the current marketing season buoyed by record production in the country.

The government had purchased 27.85 million tonnes of wheat in the 2011-12 wheat marketing season (April-March). Wheat purchase in this season has surpassed government's target of 32 million tonnes.

As per official data, wheat procurement as of July 3 was 37.85 million tonnes and the arrivals stood at 40.13 million tonnes. Punjab and Haryana have procured nearly 12.83 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, while in Uttar Pradesh it was 5.02 million tonnes. Wheat output in India 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$24) per quintal.