Confident Of Achieving Wheat Procurement Target Of 34.2 Million Tonne: Official

Earlier in the day while announcing the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said the expectation of a record rabi harvest bodes well for easing of food price pressure.

With India likely to harvest a record wheat output, the Centre said it is confident of achieving wheat procurement target of 34.2 million tonne and will soon take a call on relaxing quality norms for buying in Punjab and Haryana in view of crop damage due to untimely rains.

Earlier in the day while announcing the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said the expectation of a record rabi harvest bodes well for easing of food price pressure.

"There is already evidence of a correction in wheat prices in March on supply side interventions by the government. The impact of the recent unseasonal rains in some parts of the country, however, needs to be watched," the Governor said.

Addressing a press conference, Union Food Secretary Sanjeev Chopra said the government is hopeful of a record wheat output of 112.2 million tonne in 2022-23 crop year ending June, despite inclement weather conditions in some parts of the country affecting grain quality.