Paddy: Paddy procurement for central pool rises 6.8%

Sourcing of rice for the central pool in the current 2022-23 Kharif marketing season was 21.45 million tons as of Nov. 7, up 6.8% from 20.08 million tons a year earlier, according to the latest data from the Food Corporation of India (FCI). .

The data shows that the government will actively procure rice this year to replenish its stocks as central pool rice stocks were down 19% and unmilled rice stocks down 16% from Oct. 1 year-on-year, said Rajiv Yadav, senior vice president at Origo Commodities, which focuses on commodity supply chain, post-harvest management, trade and finance.

While sourcing from Punjab, Haryana and Tamil Nadu increased this season, that in Uttar Pradesh, one of the top producers of the grain, was lower than last year. As of November 7, the state’s contribution was 12.39 million tons, up from 14.63 million a year earlier.

A lack of rainfall during the monsoon (June-September) had resulted in less rice acreage in UP, resulting in a drop in production.

The government intends to procure 77.13 million tons of rice during the current kharif marketing season. Actual pre-season sourcing was 75.93 million tons.

Paddy is both a summer and a winter plant. However, 80% of this is produced during the kharif or summer season.

Under the central pool, rice is procured at a minimum promotion price and used for various welfare programs. The procurement is carried out by the FCI and various government agencies on their behalf.

Paddy sourcing for Central Pool up 6.8% Paddy: Paddy procurement for central pool rises 6.8%

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