Govt FY18 wheat procurement rises to 25.8 million tonne, up 20% on year.

The government wheat procurement rose to 25.8 million tonne up 19.6% on year. Procurement is up nearly one-fifth on year, its progress is slower than expected, and reaching the initial procurement estimate of 33 million tonne seems difficult, Procurement may be closer to 30 million tonne this year. The government had bought 23.0 million tonne wheat from farmers last year. The government has bought 5.4 million tonne wheat in Madhya Pradesh so far, an increase of 45% on year. Last year, procurement in the state had taken a big hit as the crop size was smaller. The government has bought 11.2 million tonne wheat so far in Punjab, up 10.0% on year, and 7.2 million tonne so far in Haryana, up 9.5%.