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15-year low Wheat Procurement
May 13 , 2022
921 days
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- Wheat procurement by government agencies is set to dip to a 15-year low in the current marketing season, from an all-time high scale last year.
- It is expected that 18.5 million tonnes (mt) of wheat will be procured this time by government agencies.
- This will be the lowest since the 11.1 mt bought in 2007-08.
- Rise in export demand mainly fuelled by Russia – Ukraine war.
- The war has led to skyrocketing prices and a further increase in demand for Indian grain.
- Farmers find it more profitable to export now.
- Lower production due to the sudden spike in temperatures from the second half of March when the crop was in the grain-filling stage, with the kernels still accumulating starch, protein and other dry matter, has taken a toll on yields.
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