Rice procurement by the government has increased by over 21.30% to 28.41 million tonnes (MT) so far in the 2015-16 marketing year compared to 23.42 MT in the year-ago period, as per data compiled by Food Ministry. This increase in procurement was despite prospects of lower production due to poor monsoon. The Food Corporation of India (FCI) and state government-owned agencies undertake procurement operations at the minimum support price (MSP).
The procurement of rice from Punjab has increased to 9.35 MT from 7.78 MT while the purchase from Haryana has risen to 2.86 MT from 2.01 MT. The procurement in these two states is over. The rice purchase in Chhattisgarh has increased to 3.97 MT so far this marketing year, from 3.35 MT in the year-ago period. In Odisha too, rice purchase rose to 2.04 MT so far this marketing year as against 1.94 MT a year ago. However, the purchase in Telangana was down at 1.01 MT as against 1.54 MT in the said period.
The Centre has kept rice procurement target of 30 MT for the current marketing year, which started in October. It however expects overall rice procurement to exceed last year’s level of 32 MT.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: