Govt expects rice procurement to touch 38 mln tn 2018-19.

Govt expects rice procurement to touch 38 mln tn 2018-19. The government has estimated rice procurement to touch 38.0 mln tn in the 2018-19 kharif marketing season. Expectation of higher output this year may lead to a rise in procurement. The government aimed at 98.0 mln tn rice output this kharif season, higher than the record high of 97.5 mln tn last year. Forecast of near-normal monsoon rains is also likely to aid output of rice. monsoon rainfall in the country is expected at 97% of the long-period average this year. So far, sowing of kharif paddy is progressing well, and acreage was 38.19 mln ha as against 37.4 mln ha a year ago. Government purchases this year are also seen rising due to an increase in minimum support price for the grain.