The Indian government has set a wheat procurement plan of 30-32 million tons

Published 2024년 2월 29일

Tridge summary

Despite potential challenges due to unfavorable weather conditions, the Indian government has set a wheat procurement target of 30-32 million tonnes for the 2024-25 crop season. The Ministry of Agriculture is anticipating a record wheat production of 114-115 million tons. Procurement targets for rice and coarse grains have also been set at 9-10 million tonnes and 6 million tonnes respectively. This comes after a year where wheat purchases fell short of the target due to decreased grain production. Additionally, the government is contemplating importing 1 million tons of wheat from Russia to mitigate rising domestic prices.

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Original content

The Indian government has set a wheat procurement target of 30-32 million tonnes for the June-July 2024-25 crop season. India's agricultural sector has been affected by unfavorable weather conditions for two years in a row, which is affecting the country's buffer stocks of wheat and causing prices to rise. This year, forecasters also point to the possibility of a difficult planting season. The Ministry of Agriculture notes that the wheat target was set despite the fact that the department expects record wheat production of 114-115 million tons in the coming agricultural year. The ministry has also set a procurement target of 9-10 million tonnes for rice and 6 million tonnes for coarse grains. In the 2022-2023 agricultural year, wheat purchases amounted to 18.8 million tons against the planned figure of 44.4 million ...

Source: Kvedomosti