Govt FY19 wheat buys exceed target; 33.3 mln tn procured so far.

The government has exceeded its wheat procurement target for 2018-19 (Apr-Mar) and has purchased 33.3 mln tn so far. The purchase is 15.8% higher than a year ago. For the current marketing year, the Centre had fixed the procurement target at 32.0 mln tn, against 30.8 mln tn purchased a year ago. The government expects India’s wheat procurement in 2018-19 (Apr-Mar) to breach the initial target by 3.0 mln tn and touch 35.0 mln tn. Even though the purchases have dwindled in Punjab, Haryana, and Rajasthan now, they will continue in Uttar Pradesh for another one month. The higher procurement this year can be attributed to an increase in the minimum support price.