The Food Corporation of India (FCI) has achieved a remarkable feat in the current Rabi Marketing Season (RMS) 2024-25, procuring an impressive 266 Lakh Metric Tonnes (LMT) of wheat. This figure surpasses last year’s procurement of 262 LMT and underscores India's commitment to food grain sufficiency. Over 22 lakh farmers have benefited from the procurement process, with Rs. 61 lakh crore directly credited to their bank accounts upon the purchase of wheat at the Minimum Support Price (MSP).
In an effort to provide convenience to farmers, wheat procurement commenced about a fortnight earlier than usual in most states this year, starting in mid-March instead of the traditional April 1. This initiative highlights the government's ongoing dedication to supporting farmers and ensuring food security.
The latest figures from various wheat-procuring states reveal that RMS 2024-25 saw an increase in wheat procurement compared to previous years. Notably, Uttar Pradesh and Rajasthan reported significant improvements, with Uttar Pradesh procuring 9.31 LMT, up from 2.20 LMT last year, and Rajasthan achieving 12.06 LMT, compared to 4.38 LMT in the previous season.
This substantial wheat procurement has ensured a steady flow of food grains into the Public Distribution System (PDS), vital for meeting the annual requirement of approximately 184 LMT of wheat under various welfare schemes, including the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY).
The Government of India set the MSP for wheat at Rs. 2275 per quintal for RMS 2024-25, providing a safety net to ensure farmers receive a fair price. Additionally, farmers have the flexibility to sell their produce in the open market if they find better prices, fostering a competitive market environment and enhancing income security for farmers.
In parallel with wheat procurement, the Kharif Marketing Season (KMS) 2023-24 saw paddy procurement exceed 775 LMT, benefiting over one crore farmers through the disbursement of more than Rs. 1.74 lakh crore to their bank accounts.
This procurement has bolstered the central pool rice stock to over 490 LMT, including 160 LMT yet to be received after milling. With an annual rice requirement of around 400 LMT and buffer norms set at 135 LMT as of July 1, the current stock levels exceed both the buffer norms and the annual requirement, ensuring robust food security.
The successful procurement of wheat and paddy this season highlights the concerted efforts of the Government, FCI, state agencies, farmers, and other stakeholders, including commission agents and transport contractors. This achievement underscores the strength of FCI’s procurement and storage infrastructure, which is crucial for maintaining food security in India.
