Strong Start to Millet Procurement Season in Haryana

Indian Government agencies in Southern Haryana have officially started purchasing millet. They are procuring at the Minimum Support Price (MSP) of USD 0,31 per kg which has triggered an impressive increase in market arrivals. Business sources from Narnaul Mandi reported that millet began flooding the market as soon as procurement began, with around 40,000 bags arriving on the first day. The agencies had earlier informed farmers about the procurement plans, leading to the bumper arrival.

Mandi Insights: Decline in Arrival Following Initial Surge

Om Prakash, a local trader in Narnaul Mandi, stated that while the first day saw a massive influx of millet, with arrivals reaching 40,000 bags, the numbers have since slightly tapered off to around 30-35,000 bags. Despite the robust procurement efforts, government agencies were unable to purchase all the millet that arrived on the first day. The current decrease in arrivals can be attributed to this backlog. Farmers in Southern Haryana, particularly in Narnaul and surrounding regions, are expected to bring in more millet in the coming days, with the peak likely to arrive around Diwali.

Charkhi Dadri and Bhiwani Mandis

In Charkhi Dadri Mandi, the situation was similar. Mandi-based trader Bharat Bhushan Gupta reported that about 7,000 bags of millet arrived today. It is down from 30,000 bags the previous day. Procurement has started, but the overwhelming volume of millet on the first day delayed the process. In Bhiwani Mandi, where procurement has been running smoothly for several days, the arrival of millet increased from 5,000 quintals to 7,000 quintals today, according to trader Babulal Singhal. Adequate arrangements for procurement have ensured a steady flow of grain in Bhiwani.

Higher MSP Brings Relief for The Farmers

The government’s decision to raise the MSP to USD 0,31 per kg is proving beneficial for farmers. Especially since the prices in the private market are significantly lower, averaging around USD 0,28-0,29 per kg. This has encouraged farmers to bring their millet to the mandis, with the expectation that government purchases will continue to support prices. Despite the high MSP, private market sales remain slow as buyers wait for prices to stabilize.

What Can We Expect in the Millet Market

Business sources predict that millet arrivals will remain strong for the next several days. The MSP is likely to maintain an attractive price point for farmers, which should keep the volume flowing into the mandis. However, some traders suggest that after Diwali, prices may ease slightly as more stock is brought in from other regions, balancing out the market supply.

Conclusion

In given market conditions and high arrival volumes, traders should consider waiting for the peak harvest season before making large purchases. Prices could stabilize further after Diwali, providing a better opportunity for bulk buying. However, the elevated MSP should keep the market relatively steady, making it a good time for cautious purchases.





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