Wheat procurement down by 28% this season so far

Wheat procurement has picked up in the past 10 days, but it is still down by 28% at 13.04 million tonne this year so far on less arrival of crop in Punjab and Haryana markets.

Food Corporation of India (FCI) had purchased 18.01 million tonne in the same period last year. Till April 10, the procurement was down by about 75%.

Punjab has procured 5.61 million tonne so far this year against 9.13 million tonne in the year-ago period, while Haryana has bought 4.64 million tonne against 6.84 million tonne during the period under review.

Punjab and Haryana had procured about 75% of the total procurement of 22.5 million tonne in 2010-11 marketing year (April-March).

However, the procurement in Madhya Pradesh has increased to 2.33 million tonne so far this year as against 2.30 million tonne in the year-ago period.

FCI expects wheat procurement at 26.2 million tonne in 2011-12 marketing year as the country's wheat production is seen at record 84.27 million tonne in 2010-11 crop year (July-June).

(Source: http://www.business-standard.com/india/news/wheat-procurement-down-by-28-this-season-so-far/133194/&tp=on)