The Food Corporation of India (FCI) has successfully procured 266 Lakh Metric Tonnes (LMT) of wheat during the Rabi Marketing Season (RMS) 2024-25, surpassing last year's procurement of 262 LMT and bolstering the nation's food grain sufficiency. This effort has benefitted more than 22 lakh Indian farmers, with Rs 61 lakh crore credited directly to their bank accounts under the Minimum Support Price (MSP) scheme.

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Typically, wheat procurement for RMS begins on April 1, but this year it was advanced by about a fortnight in most procuring states to accommodate farmers. This strategic move highlights the government's commitment to safeguarding farmers' interests and ensuring food security.

According to provisional data from various wheat-procuring states, the total wheat procurement during RMS 2024-25 stands at 266 LMT, surpassing the 262 LMT of RMS 2023-24 and the 188 LMT recorded during RMS 2022-2023. Notably, Uttar Pradesh and Rajasthan have shown significant improvements in procurement. Uttar Pradesh recorded 9.31 LMT compared to last year's 2.20 LMT, while Rajasthan achieved 12.06 LMT, up from 4.38 LMT in the previous season.

The robust procurement process has ensured a steady flow of food grains into the Public Distribution System (PDS), meeting the annual requirement of approximately 184 LMT of wheat for various welfare schemes, including PMGKAY.

For RMS 2024-25, the Government of India declared an MSP of Rs 2275 per quintal for wheat, providing a safety net to ensure fair pricing for farmers. Additionally, farmers have the flexibility to sell their grains in the open market if they find better prices, fostering a competitive market environment and enhancing income security.

Beyond wheat, during the Kharif Marketing Season 2023-24, paddy procurement for the central pool exceeded 775 LMT, benefiting over one crore farmers through disbursements of more than Rs 1.74 lakh crore for their paddy at MSP.

This procurement has increased the central pool rice stock to over 490 LMT, including 160 LMT yet to be received post-milling. With an annual rice requirement of around 400 LMT and buffer norms of 135 LMT as of July 1, the current stock levels comfortably exceed both the buffer stock norms and the annual requirement. The next Kharif Marketing Season (KMS) 2024-25 procurement is expected to begin in October 2024.

The significant procurement of wheat and paddy this season is a testament to the concerted efforts of the government, FCI, state agencies, farmers, and other stakeholders, including commission agents, handling and transport contractors.

This achievement underscores the robustness of FCI's procurement and storage infrastructure, crucial for maintaining food security in India. FCI remains dedicated to ensuring the availability of food grains across the country, supporting the farming community, and achieving the larger goal of national food security.