A total of 1.22 crore farmers have benefitted from this procurement.
Paddy is acquired and processed into rice through the milling process.
The government has procured a total of 55.8 million tonnes of rice in the 2022-23 marketing season. This has provided benefits to around 1.22 crore farmers, amounting to an MSP (Minimum Support Price) of Rs 1.7 lakh crore. In the ongoing rabi marketing year (April-March) of 2023-24, the wheat procurement has surpassed last year’s figures, reaching 26.2 million tonnes compared to the previous year’s total of 18.8 million tonnes.
According to a statement from the ministry, the government has affirmed that the current procurement of wheat and rice has ensured a sufficient stock of food grains in government granaries. The combined stock of wheat and rice now stands at 57 million tonnes, which places the country in a favourable position to fulfil its food grain requirements.
The Food Corporation of India (FCI) and state agencies collaborate to carry out the procurement of paddy and wheat through the price support scheme. Paddy is acquired and processed into rice through the milling process.
As per the ministry’s information, during the ongoing kharif marketing season (October-September), a cumulative total of 83 million tonnes of paddy (equivalent to 55.8 million tonnes of rice) has been procured until June 19.
Following the milling process, approximately 40.1 million tonnes of rice have been deposited in the central pool to date, while an additional 15 million tonnes of rice is still pending delivery, according to the statement.
The statement also mentioned that the delivery of rice resulting from the procurement of paddy is currently underway.
A total of 1.22 crore farmers have been beneficiaries of this procurement operation, receiving a minimum support price (MSP) payment totalling around Rs 1,71,000 crore.
For the 2022-23 marketing season, the government has set a target to purchase 62.60 million tonnes of rice, while during the previous 2021-22 marketing season, FCI procured 57.58 million tonnes of rice.
As per the agriculture ministry’s third estimate, the rice output for the 2022-23 crop year is projected to reach a record-breaking 135.54 million tonnes, surpassing the previous year’s 129.47 million tonnes.
Regarding wheat procurement, approximately 21.29 lakh farmers have already benefited from the ongoing operations, resulting in a minimum support price (MSP) outflow of about Rs 55,680 crore, according to the statement.