The government has set a conservative wheat procurement target of 30 million tonnes for the 2025-26 rabi marketing season, sources said. The lower procurement target comes despite the Agriculture Ministry aiming for a record wheat production of 115 million tonnes in the 2024-25 crop year (July-June). For the 2025-26 rabi marketing season starting April, the minimum support price for wheat has been fixed at Rs 2,425 per quintal. The procurement target was set following discussions with state food secretaries, the sources added. The Food Corporation of India (FCI) and state agencies conduct wheat procurement to ensure farmers receive minimum support prices and to meet welfare scheme requirements. In 2024-25, government wheat procurement reached 26.6 million tonnes against a target of 30-32 million tonnes. While this exceeded the 26.2 million tonnes procured in 2023-24, it fell short of that year's 34.15 million tonne target. Wheat procurement in 2022-23 was just 18.8 million tonnes
The sharp rerating of the sector and the company has taken valuations into expensive zone
Bayer Group is present in India since 1896 and has two divisions -- crop science and pharmaceutical. It has one listed entity in India -- Bayer CropScience Ltd
Bayer Cropscience and Monsanto India were up 3% each at Rs 4,242 and Rs 2,638, respectively on the BSE.