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'Wheat farmers gained more in open market than MSP value'
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IANS | 12 Jun, 2022
The Ministry of Consumer Affairs, Food and Public Distribution said on
Friday that the wheat farmers across the country benefited more in this
season as majority of them sold their produce to the private traders at a
higher market rate in comparison to the Minimum Support Price (MSP)
value.
"It has been reported that during this season,
the farmers sold their produce at an average rate of Rs 2,150 per
quintal, thereby earning more on selling their produce in the open
market as compared to the MSP value," the ministry said.
Accordingly,
on the estimated procurement quantity of 444 lakh MT, on an average,
the farmers may have earned around Rs 95,460 crore at the rate of Rs
2,150 per quintal, instead of Rs 89,466 crore at the MSP of Rs 2,015 per
quintal. Thus, the wheat farmers may have overall got Rs 5,994 crore
more compared to the MSP.
The downward trend in public
procurement is attributed to the significantly higher purchase of wheat
by private traders as wheat price in the international market has shot
up due to global demand-supply mismatch on account of the prevailing
geopolitical situations.
The market price of wheat remained
higher than the MSP throughout the procurement period across the
country, i.e., around Rs 2,100 to Rs 2,500 per quintal.
According
to the government, wheat procurement in the current season is down by
58 per cent, missing the initial estimates of 444 lakh MT. It is
expected that the procurement of wheat during RMS 2022-23 may touch only
up to 190 lakh MT by the end of the season.
The estimates of
wheat procurement were kept at 444 lakh MT on the basis of decisions
taken in the state food secretaries' meeting held in February, before
the commencement of current RMS 2022-23. The total procurement of wheat
last year during RSM 2021-22 was 433.44 lakh MT.
To ensure
remunerative price of the produce for the farmers, the MSP of 22
mandated agricultural crops is announced by the government at the
beginning of the sowing season. The MSP is finalised on the basis of the
recommendations of the Commission for Agricultural Costs and Prices
(CACP) which is determined keeping in view the input costs and margin to
farmers.
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As on 13 Aug, 2022 |
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