Wheat procurement touches 30.1 MT till date
The Dollar Business Bureau The country is looking at good wheat output this year. Wheat procurement is generally done during April to March wheat marketing year. But this year procurement of wheat was taken up a month earlier by the Food Corporation of India. Till now about 30.1 MT of wheat has been procured by the FCI and other state agencies in the ongoing rabi marketing season of 2017-18. This is far beyond last year's total purchase of 22.9 MT of wheat. Wheat is procured from the farmers at a minimum support price which is now Rs 1625/quintal a marginal increase of Rs 100/quintal from the price offered last year. The government buys wheat from the farmers at the MSP rate specified to ...
Indias food security programme to have impact on world market: Report
The Dollar Business Bureau The large coverage of the National Food Security Act (NFSA) will inevitably intensify the requirements for food grain procurement, storage and distribution. And, given the size of India’s stocks compared to the world’s total utilisation, there will also be considerable potential impacts on the world market, said an Organisation for Economic Co-operation and Development (OECD) report. In 2013, the National Food Security Act (NFSA) was passed, which aims to provide food security to 67% of the population by distributing a fixed amount of subsidised grain each month. The government of India implements its price stabilisation and food security policies through the Food Corporation of India (FCI). FCI has been successful at providing remunerative prices for ...
