Indian government raises wheat procurement target to 34.5 million tons
The Indian government just increased its wheat procurement target by 15%, aiming for 34.5 million tons this Rabi season.
This move is meant to support farmers by making sure they get the Minimum Support Price (MSP) of ₹2,585 per quintal, especially since mandi prices have been a bit low lately.
Madhya Pradesh and Uttar Pradesh are among the states whose wheat procurement targets were raised at the request of their governments.
States's wheat targets raised after weather
Unpredictable weather has affected wheat harvests in several states, so the government has adjusted procurement goals: Madhya Pradesh's target is now 10 million tons and Uttar Pradesh's is 2.5 million tons, with Rajasthan and Bihar also getting increases.
So far, India has bought 16.4 million tons of wheat.
The all-India average mandi price on April 22 was ₹2,572 per quintal.
Overall production estimates have dropped slightly to around 110 to 120 million tons compared to earlier hopes.