GOI’s Paddy Procurement Rises By 10% To 541

1. GOI’s Paddy Procurement Rises By 10% To 541.90 Lakh Tonnes So Far In The Ongoing Kharif Marketing Season: Food Ministry Data Located in Asia, India is the second largest rice producer, ranking behind China and the largest rice exporter in the world. Different varieties of Indian rice enjoy high demand in the global markets and owing to this, India holds a mammoth 40% share in the global rice trade. Since Indian rice enjoys a great demand worldwide, a large section of farmers is involved in paddy cultivation. Favorable climatic conditions and fertile soil help the farmers have a bumper harvest every year. However, to ensure that all that is produced is not exported and adequate quantities remain for meeting domestic rice needs, the state agency, Food Corporation of India (FCI) procures rice from farmers at the Minimum Support Price (MSP) on the behalf of the Government of India. Every year the state agency, Food Corporation of India (FCI) procures paddy from the farmers of the major rice-producing states of India, like

2. Punjab, Chhattisgarh, Haryana, Telangana, Uttar Pradesh, and Bihar. Normally, the procurement process begins in the month of October. However, in the southern states of India, like Kerala and Tamil Nadu, the paddy procurement starts early, in the month of September. GOI’s Paddy Procurement In The Kharif Marketing Season Witnesses A Rise As per the data, the Food Corporation of India (FCI) on behalf of the Indian government has purchased a total of 541.90 lakh tonnes of paddy till the 3rd of January 2022-23. This highlights a rise of around 47.40 lakh tonnes as the government’s paddy procurement during the same period last year stood at 494.50 lakh tonnes. State Wise Procurement Data According to the data available, the Government of India’s paddy procurement from farmers in Punjab witnessed a marginal decline. From GOI’s paddy procurement of 187.12 lakh tonnes a year ago, the figure has come down to 182.13 lakh tonnes. In the case of Chhattisgarh, GOI’s paddy procurement has witnessed a sharp rise. From the previous procurement figure of 55 lakh tonnes, the figure has gone up to 82.89 lakh tonnes this year. The same has been the case in Haryana as well. Where the government’s paddy procurement in Haryana last year was 54.50 lakh tonnes, the buying has gone up to 58.96 lakh tonnes this year. The up-trend continued in Madhya Pradesh as well, where the paddy procurement rose from 22.42 lakh tonnes in the last marketing season to 34.50 lakh tonnes this year. Paddy procurement from Uttar Pradesh too witnessed a marginal rise. From 42.73 lakh tonnes last year, the figure has gone up to 42.96 lakh tonnes this time around.

3. However, in the case of Telangana, paddy procurement has witnessed a drop. From 63.84 lakh tonnes a year ago, the procurement figure has gone down to 56.31 lakh tonnes this year. The Bottom Line Owing to suitable climatic conditions and fertile soil, Indian farmers harvest bumper paddy crops every year. Enjoying high demand in the global markets and supported by bumper yield, India enjoys a mammoth 40% share in the global rice trade, and to ensure that adequate supplies remain for meeting domestic needs, the FCI on behalf of the Indian government procures paddy from farmers and as data suggests, GOI’s paddy procurement so far in the current marketing season has witnessed a 10% rise. If you are an importer thinking to buy rice in bulk or are an exporter thinking to grow your rice business, then Tradologie.com is the right platform for you. Tradologie has 600,000+ verified global buyers and over 70,000 verified suppliers of food and agro-commodities in its network and through the platform, you can connect and conduct trade with the relevant ones with ease.