India: Punjab Procurement Crosses 10 Mil MT Mark

According to Punjab food and supply officials, the north India state of Punjab is targeting to better the record paddy procurement of 14 million MT this season having crossed the 10 million MT mark of procurement in just 28 days this year.

Much of the procurement in Punjab is being done by six government agencies - five state government agencies and the Food Corp of India (FCI) of the central government. The Reserve Bank of India (RBI) has sanctioned a credit cash limit of over Rs.126.23 billion to the Punjab government for smooth procurement this season.

In the neighboring state of Haryana, the procurement by the state agencies has reached nearly the 3 million MT.