Wheat MSP 2024: According to the food ministry, the government has established a conservative goal for wheat procurement during the 2024-25 rabi marketing season, ranging from 30 to 32 million tonnes. Despite the Ministry of Agriculture’s anticipation of a record wheat production of 114-115 million tonnes in the 2023-24 crop year (July-June), a lower target has been set. This decision was made after discussions with state food secretaries in a meeting led by Union Food Secretary Sanjeev Chopra in the national capital on Wednesday. In a statement, the ministry stated that the estimates for wheat procurement during the upcoming rabi marketing season of 2024-25 were determined to be within the range of 30-32 million tonnes.
On February 8, 2024, the government reduced the new stock limit for traders to 500 metric tons, which was previously 1000 metric tons. There have been no changes for retailers, as their limit remains at 5 metric tons. Processors have had their monthly capacity reduced to 60%, down from the previous 70%. However, this change will be implemented starting April 2024. Last week, wheat prices in Delhi’s wholesale market ranged from 2630 to 2650, showing fluctuations of around 10 to 20 rupees per quintal. In Uttar Pradesh, most mandis have almost run out of stock, with prices in Kanpur, Varanasi, and Gorakhpur seeing fluctuations of 20 to 30 rupees per quintal. Prices in Rajasthan have slightly decreased, while Punjab and Maharashtra have maintained stable prices. Prices in Hyderabad and Bangalore are around 20.
Wheat MSP 2024
The registration process for purchasing wheat has been initiated by the Madhya Pradesh government. It is anticipated that the procurement will be carried out at the centrally mandated minimum support price (MSP) of Rs 2,275 per quintal, which is Rs 150 higher than the previous season’s price of Rs 2,125 per quintal. However, this increase has not been well-received by wheat producers and farmer organizations, as it falls short of the promised MSP of Rs 2,700 per quintal made by the ruling Bharatiya Janata Party during the Assembly elections.
Anil Yadav, the State President of Bharatiya Kisan Union (Tikait), expressed discontent with the current situation and stated that farmers are displeased. He mentioned that despite the ongoing registration process for government procurement until March 1, the farmers’ frustration may become evident once weighing commences. Wheat prices in the open markets of Madhya Pradesh are currently fluctuating between Rs 2,700 and Rs 3,000 per quintal. If the government does not provide a bonus, wheat procurement is expected to fall short of the target. Yadav emphasized that to fulfill the election promise, the government will need to offer a bonus of Rs 425 per quintal.
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The typical timeline for wheat procurement spans from April to March. However, this year, the Centre has granted states the flexibility to procure wheat based on the crop’s arrival in the market. In several states, wheat arrivals commence in the first half of March. Uttar Pradesh and various other wheat-producing states have expressed their intention to commence procurement from March 1.
National Food Security program and other social welfare initiatives
Government entities purchase wheat and paddy at a Minimum Support Price (MSP) to augment foodgrain reserves in the central pool for distribution through the National Food Security program and other social welfare initiatives. At the onset of each marketing season, procurement targets are established by the central government in collaboration with states and the Food Corporation of India. During the recent meeting, state governments were urged to either adopt or enhance their existing MSP procurement systems to align with the standard and fundamental features of the Centre’s AgriStack portal. This move aims to enhance transparency and efficiency within the procurement process before the commencement of the 2024-25 kharif marketing season.
Discussions during the meeting also encompassed topics such as supply chain optimization for the transportation of foodgrains from designated depots to Fair Price Shops, infrastructure enhancements at procurement centers, promotion of good milling practices, and the integration of Fair Price Shops into the government-supported Open Network for Digital Commerce (ONDC).
पोस्ट ऑफिस से हर महीने मिलेंगे 9250, होगा 5.5 लाख़ का प्रॉफिट, देखें डिटेल
The Telangana government reported an annual savings of Rs 16 crore through the implementation of supply chain optimization, while the Uttar Pradesh government highlighted the successful integration of e-PoS (electronic point of sale) with electronic weighing scales, ensuring the accurate supply of foodgrains to beneficiaries as per their entitled quantity.