NEW DELHI: The Food Corporation of India on Wednesday announced that it would procure nearly 135 lakh tonne wheat this fiscal.
Speaking to reporters here FCI Chairman and Managing Director Alok Sinha said FCI expects to lift at least 135 tonne of wheat in 2008-09, up by 23 lakh tonne over the current fiscal.
He said, “The major factors behind increase in lifting would be higher MSP, good crop in Punjab, Haryana, Northern Rajasthan and Western Uttar Pradesh, and low interest of private buyers in buying the crop.”
From Punjab and Haryana alone, FCI expects to lift 85 lakh tonne and 40 lakh tonne of wheat respectively, he informed.
FCI procured 92 lakh tonne of wheat in 2006-07, followed by 112 lakh tonne lifted in 2007-08. With the procurement of 135 lakh tonne of the crop, the wheat stock of the country would reach 188 lakh tonne.
The agency predicts that the private buyers would not be aggressive this year for wheat buying due to stabilized domestic wheat prices.
Speaking to reporters here FCI Chairman and Managing Director Alok Sinha said FCI expects to lift at least 135 tonne of wheat in 2008-09, up by 23 lakh tonne over the current fiscal.
He said, “The major factors behind increase in lifting would be higher MSP, good crop in Punjab, Haryana, Northern Rajasthan and Western Uttar Pradesh, and low interest of private buyers in buying the crop.”
From Punjab and Haryana alone, FCI expects to lift 85 lakh tonne and 40 lakh tonne of wheat respectively, he informed.
FCI procured 92 lakh tonne of wheat in 2006-07, followed by 112 lakh tonne lifted in 2007-08. With the procurement of 135 lakh tonne of the crop, the wheat stock of the country would reach 188 lakh tonne.
The agency predicts that the private buyers would not be aggressive this year for wheat buying due to stabilized domestic wheat prices.
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