GOI’s Wheat Procurement 12% Higher So Far

1. GOI’s Wheat Procurement 12% Higher So Far GOI’s Wheat Procurement 12% Higher So Far Many people are unaware of the fact that India-the leading rice exporter of the world is also the second- largest wheat producer. The Asian nation accounts for around 14% of the total wheat produced globally. However, despite this, India contributes a meager 3% of the global wheat trade. Owing to high consumption needs, a major share of the wheat produced is consumed domestically and hence it does not rank amongst the leading wheat exporters in the world. The GOI’s agency, Food Corporation of India (FCI) procures bulk volumes of wheat, every year from domestic farmers to secure the food needs of billion plus Indian citizens and this year as well, data highlight that the FCI has procured 11.14 million tonnes of wheat as of April 19, 12 percent more than what it procured till this time last year. Facts And Figures Facts And Figures Usually, the harvesting of the wheat crop begins in the month of April. However, this time, it was different. Owing to unseasonal rains in March, wheat procurement started a bit late, as farmers decided to let the moisture in the crops dry up in the fields.

2. The unseasonal rains led to a slight loss in wheat output in parts of Punjab and Haryana. However, low temperatures after the rain supported the crops in other wheat-growing states of the country. Regarding procurement figures, Punjab, the state that contributes the largest volume to the central pool accounted for 3.9 metric tonnes of the total FCI’s wheat procurement as of April 19. On the other hand, wheat procurement from Haryana and Madhya Pradesh stood at 3.8 metric tonnes and 3.2 metric tonnes respectively as of that date. The Food Corporation of India (FCI) is yet to procure wheat from the states of Gujrat and Bihar. Food Secretary of India, Mr. Sanjeev Chopra, believe there is a possibility of higher yield for the late-sown crops of Uttar Pradesh and Bihar. The Bottom Line The Bottom Line India is the second largest wheat producer in the world. It contributes around 14% of the total global wheat production. However, despite bumper wheat harvest every year, the nation contributes a meager 3% in the global wheat trade. The reason is India’s high consumption needs. Owing to the high domestic consumption of wheat, India does not rank among the leading wheat exporters of the world. To ensure that adequate wheat stocks remain for domestic consumption, the GOI’s agency, the Food Corporation of India (FCI) buys bulk wheat from Indian farmers and this year as well, the agency has procured 11.14 million tonnes of wheat as of April 19, 12 percent more than what it procured till this time last year. If you are a Wheat Exporter/ wheat supplier looking to export bulk wheat or are a wheat importer looking to import bulk wheat, then Tradologie.com is the platform for you. Tradologie has over 600,000 verified buyers and 70,000+ verified suppliers in its network and through the platform, you can connect and conduct bulk trade of food and agro-commodities with ease. To register as a seller, click here. To register as a buyer, click here.