India's Wheat Procurement Targets Within Reach: 25.6 Million Metric Tons Bought to Date

India's Food Secretary has confirmed that the nation is well on track to achieve its domestic wheat procurement target of 31.2 million metric tons for the 2025-26 season. With 25.6 million metric tons having been bought from farmers already, the government feels confident about hitting its target, providing food security and price stability. Here is a detailed overview:

 

Key Highlights

Procurement Progress:

 

So far, India has bought 25.6 million metric tons of wheat from local farmers, showing substantial progress toward the goal of 31.2 million metric tons.

 

The procurement is taking place under the Minimum Support Price (MSP) scheme, which ensures remunerative prices to farmers.

 

Regional Contributions:

 

Punjab, Haryana, and Madhya Pradesh are top contributors to the central pool, with strong procurement levels.

 

Madhya Pradesh has increased its procurement target, which is based on robust production and farmer realization.

 

Effect on Food Security:

 

The wheat buffer will support India's public distribution system, allowing for sufficient availability for welfare schemes and market intervention.

 

The ministry of agriculture estimated record wheat production of 115.3 million metric tons in the 2024-25 crop year.

 

Market Dynamics:

 

Farmers are opting to sell their crops to state governments because of competitive MSP prices and incentives provided by state governments.

 

Average mandi prices in major producing states are converging towards MSP, which is prompting increased procurement.

 

Challenges and Measures:

 

Though procurement in Uttar Pradesh is still moving at a slow pace, the government is initiating measures to solve transport-related issues and enhance participation.

 

Measures are being implemented to ensure hassle-free transactions and prompt payments to farmers.

 

Future Outlook:

 

With robust production projections and proactive actions, India is likely to achieve its procurement goal, reiterating its initiative towards food security and farmer prosperity.

 

This development emphasizes India's strategic response in managing its wheat stockpiles and promoting agricultural development.

 

Sources: Financial Express, The Hindu Business Line