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Commodity Market, Commodities News Today | The HinduBusinessLine

India could limit sulphur exports as supplies tighten, sources say India turns to US, Oman, Nigeria for LNG imports in March as Qatar, UAE supplies dry up China resumes buying broken rice from India Silver Price Today April 16: Latest rates in Delhi, Mumbai, Kolkata, Chennai & Bengaluru Gold rate today April 16: Gold rates up in Mumbai, Delhi, Chennai, Kolkata, Ahmedabad & Bengaluru Indian LNG importers scoop up spot shipments after prices recede Limelight Lab Grown Diamonds targets tier 2-cities with 25 stores in Q1 Crude oil futures edge up despite hopes of US-Iran ceasefire extension ‘Iran war oil shock as disruptive as Covid’ Iran war brings US close to net crude exporter for first time since World War II NAAS suggests govt to consider one-time licensing for imported horticulture hybrids India targets cocoa self-sufficiency by 2040 with national mission and reforms Why is Gold rate surges past $4,850 & Silver crossing $80? Crude unlikely to return to pre-war levels soon; India's import bill may rise $70 billion annually: Report US shuts down Iran’s maritime trade despite optimism for more talks Brent crude edges up ahead of fresh US-Iran talks Global fertilizer supply crunch tightens farm economics Crude oil prices fall for a second day on expectations US-Iran talks may resume Madhya Pradesh CM says basmati rice from the State is exported to 47 nations Russian crude oil imports rebound in March as PSU refiners lift record volumes Oil prices hit record high in March as refiners try to replace West Asian grades: IEA India’s gems and jewellery exports plunge 35% in March on weak demand Inflows into gold ETFs turn positive in past fortnight India’s Russian oil imports surge to €5.3 billion in March on higher volumes Russia restricts helium exports as global supply tightens amid Middle East tensions India’s oil security under pressure as West Asia crisis exposes import dependence risks Fuel price freeze: ₹18/litre loss on petrol, ₹35 on diesel Iran oil hoard at sea shields China’s refiners from US blockade Oil declines as US, Iran weigh more talks; US blockade of shipping to and from Iranian ports in place IMD forecast of below-normal Indian monsoon poses risk to agriculture, economy BALCO deploys AI humanoid agent for real-time training, operations and safety NSE gets MCA approval to launch National Coal Exchange of India Coal stock adequate for 90 days available: Union Coal Minister Kishan Reddy India auctions 46 critical mineral blocks, launches 7th round with 19 more: G Kishan Reddy Iranian crude returns to India after seven years as tankers dock at key ports India's March palm oil imports fall 19% to three-month low Crude oil futures rise as US moves to blockade Iranian ports Gold falls on stronger dollar, fading Fed rate-cut hopes Crude oil jumps 7% to above $100 on US’ maritime blockade on Iran Draft CAFE-3 Norms: Govt eases penalties, focuses on carbon credit trading for auto sector India allows Iranian oil tankers to berth at Sikka port under special exemption US expected to extend waiver for Russian oil imports amid global energy price concerns Sharp fall in prices hit gold ETF inflows in March India to continue buying Russian crude oil Gold futures drop ₹1,363 to ₹1,52,071/10g India targets 30 lakh PNG connections amid LPG supply concerns Crude oil futures rise on Hormuz disruptions, Saudi attack reports Unseasonal rain, hailstorms, may drag Indian wheat output by over 5% No LPG shortage in country, vessels continuously coming to India via Hormuz: Petroleum Secretary Neeraj Mittal Russia offers sanctioned LNG to energy-hungry Asia at a discount Crude oil futures rise after Israeli attacks on Lebanon West Asia Conflict: Natural gas allocation to fertiliser sector upped to 95% Oil and Gas prices plunge after US and Iran agree to a ceasefire US ceasefire may boost LPG, LNG supplies to India in short term Natural Diamond Council celebrates ‘World Diamond Day’ India set to get first Iranian crude oil cargo in 7 years Crude oil futures crashes 6% to hit lower circuit as US-Iran ceasefire cools tensions Gold rises to near three-week high as Trump pauses attacks on Iran India’s green energy drive faces critical minerals hurdle amid global race Oil plunges, stocks surge as US-Iran ceasefire sparks global market rally Freight surge, logjam hurts egg exports despite strong demand Sugar consumption in April may fall by 2 lakh tonnes on cool weather and LPG scarcity Industry body urges Maharashtra to retain inspector-free fertilizer policy Government amends mining rules to boost critical mineral exploration and self-reliance Silver futures decline ₹1,479 to ₹2.31 lakh/kg as geopolitical risks lift inflation outlook IGX gas trade rises 28% YoY in FY26 to record 76.8 million MMBtu India returns to buying Venezuelan crude to ease supply crunch Crude oil futures hit record ₹10,888/barrel; 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India’s wheat procurement for buffer stocks exceeds revised target
By Prabhudatta Mishra · 2026-06-01 · via Commodity Market, Commodities News Today | The HinduBusinessLine

The Indian government’s wheat procurement during the ongoing season has reached 34.99 million tonnes (mt) as of May 31, up by 17 per cent from 29.82 mt in the corresponding period a year ago. The current procurement, made by the Food Corporation of India for buffer stocks, has exceeded the target of 34.5 mt set by the government. It was initially fixed at 30.3 mt but increased in the last week of April, following demand from the States.

In 2025, the government had procured 30 mt of wheat, but it expected higher purchases after the Agriculture Ministry estimated the production at a record high of 120.21 mt.

Last week, the Agriculture Ministry has further enhanced the wheat output estimate to 120.66 mt, notwithstanding localised damage caused due to unseasonal rains and hailstorms. According to government’s third advance estimates of agriculture crops, the current projection of wheat production is higher by 2.3 per cent from 117.94 mt in 2024-25.

Relaxed quality norms

But, the procurement data show that out of 34.99 mt so far bought by the government, 23.63 mt (or over 67 per cent) are under relaxed quality specifications.

C Shikha, joint secretary in the Department of Food and Public Distribution, on Monday said that with 35 mt of wheat procurement this year, the Central Pool stock, maintained by the Food Corporation of India (FCI) now stands at 51.3 mt against the buffer norm (as on July 1) of 27.5 mt.

According to the data, the procurement in Punjab ended at 12.16 mt as against 11.92 mt year-ago, up by 2 per cent. The Centre had fixed a target to procure 12.2 mt wheat from Punjab in 2026-27, as 11.92 mt was bought in the entire 2025-26. Notably, almost the entire quantity in the current year’s purchase in Punjab was under relaxed quality, due to widespread lustre loss in several districts due following unseasonal rains and hailstorms.

Up 34% in M.P.

In Haryana, the Centre has purchased nearly 8.12 mt of wheat against 7.08 mt a year ago as the procurement ended on May 15 after an early start, and it is higher than the target of 7.2 mt. In 2025-26, the Centre had bought 7.14 mt of wheat from Haryana.

In Madhya Pradesh, the Centre has purchased 10.44 mt against 7.78 mt a year ago, up by 34 per cent. In the last week of April, the Centre accepted the state’s request and revised the target to 10 mt from the earlier fixed 7.8 mt.

Due to a delayed start and slow pace of purchase, which officials blamed on non-preparedness of agencies with inadequate gunny bags and purchase centres, the target was looking impossible. But, with consistent pressure from Opposition and farmer organisations, the government managed to exceeded the target.

The procurement in Madhya Pradesh was lower by 59 per cent until April 30 despite the state was allowed by the Centre to buy the crop from farmers from March 15, against normal schedule of April 1.

The purchase in Uttar Pradesh has reached 1.72 mt against 1.03 mt and in Rajasthan at 2.43 mt from 1.98 mt year-ago, the data show. In Bihar, the procurement has reached 36,285 tonne, more than double from 17,923 tonne year-ago. The Centre had also raised the purchase target in Uttar Pradesh from earlier 1 mt to 2.5 mt, in Rajasthan from 2.1 mt to 2.35 mt and in Bihar from 18,000 tonne to 0.18 mt.

Published on June 1, 2026