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.

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