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Rice procurement stood at 9.2 MT so far this year

11 Nov 2014 Evaluate

The procurement of rice by government agencies stood at 9.2 million tonnes (MT) in the ongoing 2014-15 marketing year so far. This is a drop of 8% compared to the last year’s level of 10 MT during the same period. In order to ensure that farmers get a minimum support price (MSP), the state-run Food Corporation of India (FCI) and state agencies undertakes procurement of rice and wheat. Rice marketing year runs from October to September period.

The annual procurement target for this year is 30 MT. In state of Punjab, the procurement of rice has reached 7.23 MT so far this year, marginally down from 7.49 MT in the year-ago period. The purchase of rice remained down at 1.87 MT from 2.5 MT in Haryana while procurement in Chandigarh was lower at 10,000 tonnes from 11,000 tonnes in the review period.

In Tamil Nadu, the procurement operations began at a slow pace as only 2,500 tonnes of rice has been purchased this year so far as compared to 42,000 tonnes in the year-ago period. However, rice procurement in Uttar Pradesh was higher at 18,000 tonnes this year so far compared to 15,000 tonnes in the year-ago period.

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