FCI's wheat stock rises 11 per cent to over 24.4 million tonnes

Wheat procurement in the country has gone up 11 per cent to 24.44 million tonnes so far during the current rabi marketing season (2011-12) compared to the year-ago period, on account of increased arrivals.

Food Corporation of India (FCI), the nodal agency for procurement and distribution of foodgrains, had procured 22.02 million tonnes of wheat in the corresponding period of the previous year.

Wheat arrivals at various FCI godowns have gone up by 7.41 per cent to 26.36 million tonnes compared to 24.54 million tonnes in the year-ago period.

The state agency procured 2,44, 43,301 tonnes of wheat so far (as of 20 May 2011) during the current rabi marketing season, surpassing total wheat procurement of 225 lakh tonnes procured during the previous rabi season.

Punjab reported record procurement of 108,47,828 tonnes of wheat, followed by Haryana with 67,84,124 tonnes. Madhya Pradesh also recorded higher wheat procurement of 40,04,477 tonnes while Uttar Pradesh and Rajasthan also made significant procurements, at 17, 04,338 tonnes and 9,49,065 tonnes, respectively.

The government is targeting a procurement of 26.2 million tonnes in 2011-12 marketing year on the back of projected wheat production of a record 84.27 million tonnes in 2010-11 crop year (July-June).

The government is paying Rs1,170 per quintal of wheat, including a bonus of Rs50, to farmers this season.

Rice procurement in the kharif marketing season 2010-11 has also crossed last year's mark. As on 20 May 2011, FCI procured 280,80,570 tonnes of rice against last year's procurement of 278,68,159 tonnes during the same period.