INVC NEWS
New Delhi ,
Government of India has sufficient food grain stocks under Central Pool to meet the requirement of NFSA and its Other Welfare Schemes as well as for additional allocation of PMGKAY. About 159 LMT of Wheat will be available as on 1st of January 2023, which is well above the buffer norm requirement of 138 LMT of 1st of January. As on 12.12.2022, around 182 LMT of Wheat is available in the Central Pool.
Government of India is well aware of the price scenario of Wheat and is constantly monitoring it regularly on weekly basis along with other commodities and taking corrective measures, as and when required. Government of India has taken proactive steps to ward off any further price rise and export regulations were imposed with effect from 13.05.2022. Further, the allocations under NFSA as well as PMGKAY have also been revised in favour of rice for having sufficient Wheat stock in Central Pool to cater to the requirements of Welfare Schemes.
Government of India has enhanced the MSP of Wheat crop this year to Rs. 2125/qtl against the last year MSP of Rs. 2015/qtl for RMS 2022-23. Thus, increase in MSP of Rs. 110/qtl coupled with fairly good climatic conditions, it is expected that the production and procurement of Wheat during next season shall remain normal. Procurement of Wheat next season would commence from April 2023 and as per initial assessment there has been a fair increase in the sowing of Wheat crop as compared to last year.
Government of India has ensured that sufficient stock of food grains are available in the Central Pool to meet the requirement of all the Welfare Schemes across the country and prices remain under control.
Though procurement of Wheat during last season was on lower side due to lesser production coupled with selling by farmers at prices higher than MSP in the open market consequent to geo-political situation, yet enough stock of Wheat will still be available in Central Pool to cater to the needs of the country till the time next Wheat crop arrives.
