Wheat purchase by FCI set to stay below 20% in Punjab.

Food Corporation of India (FCI) is likely to purchase less than 20 per cent of the total arrivals in Punjab during the ongoing wheat procurement season.Of a total wheat production of 166 lakh metric tonnes (LMT), 130 LMT is expected to arrive in various mandis of Punjab. The various state government procurement agencies and FCI are targeting to procure 119 LMT of wheat, most of which will be done by April-end. Officials in the FCI say though they have been given a target to procure 24 LMT of wheat this year, their own procurement will be much less.