India’s agricultural sector is witnessing a significant surge in paddy procurement, with the Food Corporation of India (FCI) and state agencies successfully acquiring over 120.67 lakh metric tonnes (LMT) of paddy in Punjab during the ongoing kharif marketing season (KMS) 2024-2025. This impressive procurement, as of November 8th, translates to a staggering Rs 27,995 crore, showcasing the government’s commitment to supporting farmers and ensuring food security.
The procurement process has been smooth, with a total of 126.67 LMT of paddy arriving in Punjab’s mandis as of November 8th. The FCI and state agencies have actively procured 120.67 LMT, ensuring a fair price for the farmers’ hard work. The paddy is being purchased at the Minimum Support Price (MSP) of Rs 2,320 per quintal for Grade ‘A’ paddy, a crucial measure implemented by the government to protect farmers from distress sales and guarantee a profitable return for their efforts.
The positive impact of this procurement is evident, with approximately 6.58 lakh farmers in Punjab benefiting from the transaction. This emphasizes the government’s dedication to supporting farmers and their livelihoods, a core pillar of India’s agricultural policy. To facilitate the process, 4,839 millers have applied for paddy shelling, and the Punjab state government has already allotted work to 4,743 of them.
The procurement process for KMS 2024-25 commenced in Punjab on October 1st, 2024, with 2,927 designated mandis and temporary yards operating across the state to ensure seamless procurement from Punjab’s farmers. The Central Government has set an ambitious target of 185 LMT for paddy procurement during this season, which will continue until November 30th. The government is confident in achieving this goal, highlighting their commitment to supporting the agricultural sector and ensuring sufficient food reserves.
The government’s proactive approach to paddy procurement underscores its commitment to farmer welfare and food security. The MSP, a crucial tool to protect farmers from market fluctuations, has been instrumental in ensuring a stable income for them. The government’s continued efforts in this area will play a vital role in sustaining India’s agricultural prosperity and food security in the long term.
