Madhya Pradesh may miss its wheat buy aim, can end near 7 MMT.

The wheat in the current marketing year ending March. The procurement is likely to end near the Centre’s target of 6.7 mln tn. Govt had procured 3.7 mln tn wheat from Madhya Pradesh, down from 4.1 mln tn a year ago. When Madhya Pradesh announced a bonus on wheat procurement this year, market players expected a larger share of the state’s wheat production to go to the government but the state’s policy is seen bolstering open market supplies instead. Madhya Pradesh Chief Minister Shivraj Singh Chouhan had promised to buy wheat from farmers at 2,000 rupees per 100 kg, against the minimum support price of 1,735 rupees per 100 kg fixed by the Centre. In its official policy later, the state government announced a bonus of 265 rupees per 100 kg to all registered farmers, irrespective of whether they sell their crop to the government or in open markets.