NEW DELHI: India has bought 2.08 million metric tons of new-season wheat from domestic farmers since March 15, up 44.4% from last year, government sources said, indicating a robust crop that will help New Delhi shore up its depleted reserves and avoid imports.
The government-backed Food Corporation of India (FCI) has primarily purchased early varieties of wheat from the central state of Madhya Pradesh.
FCI’s wheat procurement period has gotten off to a strong start and is expected to gather steam in the coming weeks as harvests from bread-basket states such as Haryana, Punjab, and Uttar Pradesh start to trickle into the market.
Comments