The Food Corporation of India (run by the Government of India under the jurisdiction of the Ministry of Consumer Affairs, Food and Public Distribution) bought a record high 408 lakh* tons of wheat at a [swpm_protected visible_to=”logged_in_users_only” custom_msg=’This content is for members only. Please login or sign up now.’] minimum support price of 261.50 USD/mt in the current season of 2021-22 which is higher 25.92 lakh tons than the same period of last time (which were 361.88 lakh tons). The reason for the stronger support from the government was farmer protests since November 2020 which demanded stronger support for the farmers.
Farmers got a good revenue for their wheat crop this year. According to Union Food Ministry, Punjab 132.10 lakh tons, Haryana 84.93 lakh tons, and Madhya Pradesh 127.70 lakh tons of wheat bought at MSP in this Rabi season.
*1 lakh equal to 100’000