Chandigarh: Punjab and Haryana are set to start the buying season for wheat from 1 April, with central agency Food Corporation of India (FCI) and state agencies expecting to purchase 12.5 million tonnes (mt) of the grain during the 2008-09 rabi marketing season.
The minimum support price for wheat is now Rs1,000 per quintal. The Reserve Bank of India has sanctioned a credit limit of Rs8,013 crore for Punjab this season, while Haryana has sent a proposal for Rs2,696 crore in order to pay the growers, an official said.
The two states are expecting increased arrival of wheat in markets this year at 10.5mt and 4.5mt, respectively.
FCI had expressed concern last month over the dwindling arrival of wheat. It is feared that farmers might sell the crop directly to other states.
The Punjab government has notified 1,600 mandis (markets) for buying wheat, while Haryana has approved 362 market sheds for the purpose, an official of the food and supplies department said.