The Hindu Business Line : Wheat procurement crosses 88 lakh tonnes

New Delhi May 7 Wheat procurement by the Food Corporation of India (FCI) and State agencies has reached 88.16 lakh tonnes (lt) during the current 2007-08 rabi marketing season (April-June) as per the latest compiled information till Monday.

This is still below the 91.15 lt purchased by Government agencies during the corresponding period of the 2006-07 season.

Procurement has so far lagged behind in Punjab (58.57 lt versus 68.66 lt), while being higher in Haryana (27.69 lt versus 22.19 lt), Rajasthan (1.27 lt versus 1,487 tonnes) and Uttar Pradesh (57,577 tonnes versus 27,879 tonnes).

Expectations

At the current rate, it is unlikely that the Centre's targeted wheat purchases of 151 lt for the entire season will be met. This follows the 92.25 lt procured in the 2006-07 season, which was the lowest since the 81.57 lt of 1996-97.

The general expectation now is that official procurement would end up at around 70 lt in Punjab and 30 lt in Haryana, with all other States put together contributing 5-10 lt. In short, there would a shortfall of 40-45 lt.

However, since the current season has started with opening stocks of 47 lt - against last time's 20 lt - there will be a total availability of 150 lt plus in the Central pool, which can more than meet an average monthly wheat offtake of 10 lt. With imports of 30 lt or so, the overall stocks position may still be comfortable.