Rice procurement by FCI declines

Procurement of rice by government agencies have declined to 14.53 million tonnes in the current marketing season, according to an official. 

The total procurement of rice by various state agencies including Food Corporation of India (FCI) were around 15.82 million tonnes in the last marketing season, according to the data compiled by FCI.

Marketing season for agricultural products begins in October and runs till September.

According to available information, out of the total rice procurement of 14.53 million tonnes, Punjab has contributed the maximum at 8.63 million tonnes followed by Haryana at 1.65 million tonnes.

Besides, the total procurement from Chattisgarh is around 1.4 million tonnes whereas Andhra Pradesh has contributed around 1.1 million tonnes so far.

The government procures rice and wheat through various agency at minimum support prices from farmers across the country for public distribution through ration shops and to maintain buffer stocks.

Minimum Support Prices are fixed by the government to protect farmers from distress sales in open market.