MTECHTIPS

MTECHTIPS:-India Rice procurement target at 40 mn tons in 2012-13 MY

India government targets to procure a record 40 million tons of rice from farmers in the ongoing 2012-13 marketing year(MY) that started this month,says Food Corporation of India (FCI) Chairman and Managing Director Amar Singh .The procurement target is higher from the last marketing year.Last year the government had targeted to procure 35 million tonnes of rice and has nearly reached that level. The summer kharif output is estimated to be lower in the current crop year in India. According to assessments by the Meteorology Department and the Ministry of Agriculture, production of rice this year will be as good as last year’s.The production of paddy was around 103 million tons last year, More or less, the same quantity is expected this year as well, according to K.V. Thomas, Union Minister for Consumer Affairs, Food and Public Distribution.Procurement of paddy has reached around 5,00,000 tons in the first week which started from October 1 and is expected to pick up in the coming days. At present paddy is being purchased from Punjab and Haryana.