Government's rice procurement likely to touch last year's level of 592 lakh tonnes

The government's rice procurement is likely to touch last year's level of 592 lakh tonnes in the ongoing 2022-23 marketing year ending September, despite estimated fall in kharif output. Addressing a press conference, Food Corporation of India (FCI) Chairman and Managing Director Ashok K Meena said, "The way paddy procurement is happening, we expect total rice procurement will reach last year's level of 592 lakh tonne."

While the target is 600 lakh tonnes, about 426 lakh tonnes of rice have already been procured till January 26 of this year as against 410 lakh tonnes in the year-ago period, he said.

The country's rice production is estimated at 104.99 million tonnes for the 2022-23 crop year (July-June), down from 111.76 million tonnes in the previous year as per the initial government estimates.