Mumbai: Government agencies have procured the highest quantity of wheat so far this season from Punjab, with revenue from the purchase to state government doubling to Rs1,250 during the ongoing rabi marketing season.

"The state government has earned total revenue of Rs1,250 crore, which is almost double of the collection made in previous year and an all time record," Punjab food and civil supplies minister Adesh Partap Singh Kairon said in a release.

The state government also earned about Rs380 crore in the form of tax due to higher procurement and difference of revised MSP, he said.

Punjab today crossed the 10 million tonne mark of wheat procurement despite in the shortest procurement season this year. This is the second highest since total wheat procurement  in the state topped 10.5 million tonnes in 2001-02.

The minister hoped that since arrival of wheat is still continuing, the procurement may set a new record, he added.

Neighbouring Haryana sold 5.04 million tonnes. Punjab and Haryana together produce around 40 per cent of the country's total wheat output.

Procurement agencies in the country bought 18 million tonnes of wheat from farmers this year, 62 per cent more than last year, adding to a record global harvest and ease fears of scarcity.

Prospects of bumper crops in India, Australia and the United States have helped world prices ease by 40 per cent from record highs hit in February.