SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Centre purchases 29.26 million tonne of wheat from farmers so far in 2019-20

17 May 2019 Evaluate

The Centre has purchased 29.26 million tonne of wheat from farmers in the ongoing 2019-20 marketing year (April-March) so far. The Centre has set the wheat procurement target at 35.7 million tonne for the 2019-20 on hopes of a record 100 million tonne production this year. State-run Food Corporation of India (FCI) along with state government agencies buy wheat at the minimum support price to meet the demand of welfare schemes.

Wheat MSP has been fixed at Rs 1,840 per quintal for this year. Of the total 29.26 million tonne purchased so far, about 12.1 million tonne of wheat has been purchased in Punjab and 9 million tonne in Haryana, while around 5.3 million tonne of the grain has been procured in Madhya Pradesh, 1.93 million tonne in Uttar Pradesh and 8,59,000 tonne in Rajasthan in the said period.

Besides, FCI is facing space crunch to keep the new wheat crop because of huge stock in the godowns. As a result, the agency has decided to offload 10 million tonne wheat to bulk consumers during this fiscal. In 2018-19, the government had procured 358 lakh tonne, surpassing the target of 320 lakh tonne.

About MoneyWorks4Me

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.

Our Vision

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.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×