FCI and related agencies purchased 26 MT of wheat through minimum support price (MSP) operations during the most recent season (2023–2024).
Tradologie.com is a user-friendly SaaS based global trade hub and your streamlined solution for B2B wheat procurement and sales. Connect with global bulk wheat flour buyers or bulk wheat flour sellers , bypass middlemen for higher profits, and secure the best bulk prices effortlessly. Simplify your wheat flour sales or procurement with Tradologie.com.
The “Bharat Brand” Initiative
On Thursday, the government announced that, as part of the 'Bharat' brand initiatives, 3 MMT of rice and wheat flour will be released into the retail market over the course of the next four to five months in an effort to curb the rising prices of cereals.
According to Food Secretary Sanjeev Chopra, prices have been effectively managed for wheat flour under the Bharat atta initiative, wherein the government sells it at a subsidized rate of Rs 27.50/kg. However, rice prices are still high. In a briefing, Chopra stated, “We will be selling around 1.5 MT of rice and atta each through retail outlets aimed at curbing spike in prices.”
The government is selling rice at a discounted price of Rs 29/Kg through a number of retail locations, including those run by farmers' cooperatives Nafed and NCCF, as part of the recently announced Bharat rice program announced earlier this month.
FCI's Wheat Sales
Additionally, starting in June, the government has launched a vigorous campaign to sell wheat from the Food Corporation of India (FCI) stock through weekly online auctions. As of Wednesday, the corporation had sold an unprecedented 8.94 MT to bulk buyers of wheat flour. As part of the Bharat Dal initiative, the government is currently also selling chana dal at subsidized prices of Rs 60/kg. Wheat inflation fell to 2.33% in January from 4.69% in December of last year, with increased supplies as a result of the FCI's aggressive open market grain sales.
In an effort to slow the rise in pulse prices, the government on Wednesday extended duty-free imports of yellow peas by one month, through April 30, 2024. In the market, yellow peas are a noteworthy alternative to chana.
The government is expected to conclude FCI's open market sale of wheat from FCI's stock by the end of this month, as opposed to the customary date of March 15, according to sources. Additionally, it has scheduled a meeting of state food secretaries for February 28 to develop a plan for acquiring wheat for the upcoming season (2024–25).
Wheat Procurement at MSP
Major wheat-growing states like Uttar Pradesh, Punjab, Haryana, Madhya Pradesh, and Rajasthan were previously urged by the Center to start farmer registration and set procurement targets for MSP operations as soon as possible. Purchasing wheat is typically done in the months of April through June.
The country's biggest wheat producer, Uttar Pradesh, is anticipated to start wheat procurement on March 1; Madhya Pradesh, which contributes the second-most to the central pool wheat stock, is expected to start MSP purchases on March 15. Wheat purchase operations in Punjab and Haryana are scheduled to begin on April 1.
If you are a wheat flour importer wishing to import wheat flour in bulk or a wheat exporter willing to export bulk wheat, then Tradologie.com is the right platform for you.
Tradologie.com facilitates bulk agro-commodity sales and procurement across the globe. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities in bulk at negotiable rates.
The transaction oriented platform has 700,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 100 countries.
To register as a buyer, click here. To register as a seller, click here.
To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.
