Govt expects record wheat procurement this year
New Delhi: Buoyed by estimates of bumper wheat production, the government is targeting procurement of a record 26 million tonnes in 2011-12 from farmers at a support price of Rs 1,120 per quintal.
The government is expecting to procure 26 million tonnes in 2011-12 marketing year (April-March), which is 16 per cent higher than last year`s 22.52 million tonnes.
The previous high was achieved in 2008-09 marketing year, when the procurement stood at 25.3 million tonnes.
"The government expects a bumper wheat crop and the estimated procurement may be to the tune of 26 million tonnes," Food Corporation of India (FCI) said in a statement.
According to the second advance estimate released by the Agriculture Ministry, wheat production is likely to touch a new record of 81.47 million tonnes this year as against 80.71 million tonnes in the previous year.