The Hindu Business Line : Rice procurement lower at 72.48 lakh tonnes

New Delhi, Oct 30 The Food Corporation of India (FCI) and State agencies have managed to procure 72.48 lakh tonnes (lt) of rice during the current 2007-08 marketing season (October-September) as on Tuesday. This is 5.8 per cent below the 76.91 lt purchases over the corresponding period of the 2006-07 season.

According to the Food Ministry, progressive procurement in Punjab so far, at 60.95 lt, is lower than the corresponding 2006-07 figure of 63.69 lt. There has been a similar fall in Haryana too, from 12.69 lt to 11.12 lt.

Late transplanting

Officials say that the current procurement gap is mainly on account of late transplanting of paddy in Punjab and Haryana, which has led to delayed mandi arrivals.

The late announcement of a bonus by the Centre has also been a factor in the lower progressive procurement.

“Going by current daily market arrival and procurement trends, we expect the gap over last year to progressively come down. The overall procurement will more or less than last year’s level,” the officials added.

Further bonus?

Meanwhile, the Union Agriculture Minister, Mr Sharad Pawar, and the Finance Minister, Mr P. Chidambaram, are scheduled to meet on Wednesday to discuss the feasibility of announcing a further bonus over and above the current Rs 50 per quintal.

The latter is, in turn, on top of a minimum support price (MSP) of Rs 645 per quintal on common paddy and Rs 675 on grade ‘A’ varieties for the current season.