In order to ensure the country’s foodgrain sufficiency, the Food Corporation of India (FCI) successfully procured 266 lakh metric tonnes of wheat during the current Rabi marketing season 2024–25, exceeding last year’s figure of 262 lakh metric tonnes, the Ministry of Food and Public Distribution said on Wednesday.
With the direct credit of Rs 61 lakh crore to their bank accounts upon the purchase of wheat at the Minimum Support Price (MSP), over 22 lakh Indian farmers have benefited.
Every year on April 1st, the procurement of wheat under MSP officially begins; however, this year, most states moved this date forward by almost two weeks to accommodate farmers.
According to the official statement, this accomplishment demonstrates the government’s ongoing dedication to defending the rights of farmers and guaranteeing food security for all.
The preliminary data gathered from several states indicates that there have been notable advances in the quantities of wheat procured by Rajasthan and Uttar Pradesh.
9.31 lakh metric tons (LMT) were procured by Uttar Pradesh, up from 2.20 LMT the previous year, and 12.06 LMT by Rajasthan, up from 4.38 LMT the previous season.
FCI has been able to guarantee a consistent supply of foodgrains into the Public Distribution System (PDS) thanks to the significant amount of wheat procurement.
The Ministry statement also stated that this entire procurement procedure has been essential in fulfilling the annual requirement of about 184 LMT of wheat under various welfare initiatives, including PMGKAY.
For the Rabi Marketing Season of 2024–2025, the wheat Minimum Support Price (MSP) set by the Central government is Rs 2,275 per quintal.
In order to guarantee that farmers get paid fairly, the MSP serves as a safety net.
In order to promote competition in the market, farmers are also allowed to sell their foodgrains on the open market if they discover higher prices.
Farmers now have greater economic stability because to the MSP guarantee and their freedom to sell on the open market, the official stated.
Along with wheat, more than one crore farmers benefited from the purchase of their paddy at MSP, as over Rs 1.74 lakh crore was disbursed to their bank accounts during the Kharif Marketing Season 2023–24, surpassing 775 LMT of paddy procurement for the central pool.
With the amount of rice now in stock, the nation surpasses both its yearly requirement and its buffer stock standards.
In addition, the statement stated that procurement for the upcoming Kharif Marketing Season 2024–25 is probably going to start in October 2024.
