Indian Government Millet Procurement Eases Farmer's Stress
Millet Procurement Crosses 0.420 Million Tonnes in Haryana
The Central Government’s direct millet procurement has provided much-needed relief to farmers in Haryana. Where wholesale market prices have been running below the minimum support price (MSP). The MSP for millet this season is set at $0,31 per kg, a 5% increase from last year. By November 13, 2024, over 0.42 million tonnes of millet were procured in Haryana, with an additional 17,956 tonnes purchased in Uttar Pradesh, bringing the total procurement to 0.438 lakh tonnes.Government intervention under the price support scheme has become critical. Especially as key millet-producing states like Madhya Pradesh, Maharashtra, Gujarat, and Rajasthan are yet to begin procurement. Experts believe that authorities might need to take similar action to support farmers if market prices fall sharply in these regions.
Reduced Sowing and Production Intensify Challenges
Millet cultivation has seen a slight decline in acreage this year, dropping from 7.094 million hectares in 2023 to 6.991 million hectares in 2024. Production is also expected to decrease to 9.375 million tonnes, compared to 9.663 million tonnes last year. This reduced supply, coupled with low market prices, has increased the reliance of farmers on government procurement for financial stability.Further Development Projections
As procurement continues in Haryana and Uttar Pradesh, there is a growing demand for similar measures in other states. Farmers hope that these efforts will stabilize millet prices and safeguard their livelihoods. The government’s proactive steps to procure millet at MSP aim to maintain the viability of millet farming during challenging times.Click here to reach our trading platfrom CMBroker
