Wheat Procurement at record 42.64 mln ton vs 37.89 mln

Wheat procurement by the government agencies in the country have hit record high of 42.64 mln ton as on Jun 14 as compared to 37.89 mln ton in the corresponding period a year ago. Punjab, Madhya Pradesh, and Haryana are top three contributors this year. Wheat stocks as on June 1 stood at 60.2 mln ton also at record highs. With the government announcement to provide free food-grains to poor and needy until November, stocks could witness a decline amid probable improved export. Could ample inventories in domestic and weather woes globally be again turn out to be good opportune for Indian wheat exporters for 2021 ???