Paddy purchases trail last year’s levels

Telangana and Chhattisgarh are two exceptions the place procurement of paddy has absent up in existing year, though there has been just one for each cent drop pan-India in purchase of the essential kharif cereal considering that Oct 1.

Punjab, the place procurement exceeded the State’s output very last calendar year, has found an 8 for each cent slide in paddy purchase though poll-certain Uttar Pradesh has reported eighteen for each cent drop for the duration of on-going year.

Total buys of paddy in the country are at 497.forty eight lakh tonnes (lt) as of January 3, versus 502.seventy nine lt calendar year-ago, formal data show. The target for this kharif year is 528.26 lt in conditions of rice.

Telangana — the place procurement commenced late owing to the stand-off between Point out and the Centre on parboiled rice situation — has found above a fifty for each cent raise at sixty three.85 lt, though it was up four.3 for each cent at 55.09 lt in Chhattisgarh. The target for Telangana is 46 lt in conditions of rice from the kharif crop and ninety three for each cent has presently been procured.

Haryana has found a 2.2 for each cent drop at 55.30 lt, though Odisha has reported forty.36 for each cent drop at thirteen.86 lt.


Rates below MSP

“It is stunning to see a slide in paddy procurement as the approximated rice output this kharif is at record 1,070 lt and mandi selling prices in most of the manufacturing states are ruling below the minimal support selling price (MSP),” reported Ashok Garg, a trader in Hapur, Uttar Pradesh. The normal mandi selling prices are between ₹1,800 and ₹1,900 for each quintal now versus paddy MSP of ₹1,940/quintal, traders reported. On the other hand, there are also reports of farmers advertising paddy at ₹1,five hundred-1,600 to middlemen at village stages, mainly in eastern elements of the country.

FCI stock placement

FCI’s rice stock placement must be 86 lt (buffer norm and strategic reserve) as of January 1, while it experienced 213 lt of rice and further 358.seventy eight lt in form of paddy as on December 1, 2021. The agency is likely to have nearly very same level of stock in perspective of on-going procurement year.