India: Domestic Procurement Likely To Fall Short

Even after increasing the bonus to boost its purchase, India's Agricultural ministry is likely to fall short of its domestic procurement target by as much as 2.5 million MT.

The agricultural ministry has however expressed confidence that shortfall in the procurement would not lead to imports of rice as in the case of wheat last year.

The Food Corporation of India (FCI), the nodal agency for procurement and distribution of food grain, and various state agencies have purchased 115.62 lakh MT of rice till 24th of December compared to 119.07 lakh MT in the corresponding period last year.