Paddy: Paddy procurement for central pool rises 6.8%

Procurement of paddy for the central pool within the ongoing 2022-23 kharif advertising and marketing season was 6.8% larger at 21.45 million tonnes as on November 7, in contrast with 20.08 million tonnes a yr earlier, in response to newest knowledge from Meals Company of India (FCI).

The information point out that this yr, the federal government will actively procure paddy to replenish its shares, because the central pool shares of rice had been 19% decrease and the inventory of un-milled paddy was 16% much less as on October 1 in contrast with final yr, mentioned Rajiv Yadav, senior vp at Origo Commodities, which focuses on commodity provide chain, post-harvest administration, commerce and finance.

Whereas procurement from Punjab, Haryana and Tamil Nadu elevated this season, that in Uttar Pradesh, one of many high producers of the grain, was decrease from final yr. Until November 7, the state’s contribution was 12.39 million tonnes towards 14.63 million a yr earlier.

A deficiency in rainfall throughout monsoon (June-September) had led to decrease paddy acreage in UP, inflicting a fall in manufacturing.

The federal government goals to obtain 77.13 million tonnes of paddy throughout the ongoing kharif advertising and marketing season. The precise procurement within the earlier season was 75.93 million tonnes.

Paddy is a summer time in addition to winter crop. Nonetheless, 80% of it’s produced throughout the kharif, or summer time, season.

Underneath the central pool, paddy is procured at a minimal help worth and is used for numerous welfare schemes. The procurement is undertaken by FCI and numerous state businesses on its behalf.