FCI RAISES RECORD WHEAT PROCUREMENT TARGET FOR MY 2017-18

Gold Silver Reports — The FCI has fixed a procurement target of 33 million tonnes for the 2017-18 fiscal starting April, against the 22.96 million tonnes purchased in the previous year, when production was low at 92.29 million tonnes.

In February, the government had projected the wheat production to cross the n++recordn++ 96 million tonne figure following a good monsoon in 2016-17. However, a fluctuation in climatic conditions, with an increase in temperature, gave the farmers jitters as hot weather might have damaged the grain while it was still ripening. — Money Market Guru

FCI RAISES RECORD WHEAT PROCUREMENT TARGET FOR MY 2017-18 | Money Market Guru

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