The Centre has extended the wheat procurement season till 31st May, 2022.

Tags: National Economy/Finance

The Centre has extended the wheat procurement season till May 31, 2022.

• The Centre has asked states and union territories to continue procurement till the end of May.

• Farmers are expected to benefit from the extended period of wheat procurement.

• The decision has been taken in view of the request by the state governments to continue the procurement process.

• Procurement of wheat under central pool in Rabi marketing season 2022-23 is going on smoothly. 

• The central government has also decided to ban the export of wheat to check the high prices of wheat.

• Till May 14, 180 lakh tonnes of wheat has been procured, due to which about 16.83 lakh farmers have benefited from the MSP price of Rs 36,208 crore.

• Why did India ban the export of wheat?

• Record retail inflation has dashed India's export hopes.

• While the prices of wheat have increased by about 20%, the prices of essential food items like flour have increased by about 15% last year.

• Apart from bread and biscuits, there has also been an increase in the prices of other food items in which wheat is used.

• In late March, the heatwave affected the production of food grains, especially in Northwest India.