April 23, 2013


Indian government agencies buy 30% more wheat during Rabi


In the Rabi marketing season, India's government agencies have procured 11.94 million tonnes of wheat as arrivals gained momentum in states such as Punjab and Haryana, about 30% more than 9.23 million tonnes in the same period last year.


In Punjab, the government has procured 4.3 million tonnes, more than 1.99 million tonnes procured last year. The government had procured 12.83 million tonnes from Punjab last year, while overall procurement across the country stood at 38.14 million tonnes.


In Haryana, the procurement is marginally lower at 3.7 million tonnes against 3.79 million tonnes in 2012.


In Madhya Pradesh, the procurement in 2013 is 17% higher at 3.63 million tonnes against last year's 3.09 million tonnes.


However, in Uttar Pradesh, the country's largest wheat producing state, the procurement by local agencies is still sluggish due to a weak procurement mechanism.


Agencies have bought about 75,765 tonnes of wheat in Uttar Pradesh, almost half of last year's 1.4 lakh tonnes.


The total wheat crop this year is expected to be higher than last year's 93.9 million tonnes and is pegged at around 96 million tonnes.


National wheat stocks stood at 24.2 million tonnes as of April 1. By June 1, the stocks are expected to rise to 62 million tonnes.

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