The correct answer is: Only II and III follow.
The statement says that there is an unprecedented increase in the production of wheat this kharif season in most parts of the country. This means that there is a surplus of wheat in the market.
Course of action I says that the government should immediately lower down the procurement price of wheat. This is not a good course of action because it will discourage farmers from producing wheat. The government should instead try to find ways to increase the demand for wheat, such as by exporting it to other countries.
Course of action II says that the farmers should be asked to store the excess produces with themselves to be used for future. This is a good course of action because it will help to prevent the price of wheat from falling too low.
Course of action III says that the government should make its best efforts to export wheat to augment its presence in international market. This is also a good course of action because it will help to increase the demand for wheat and raise its price.
Therefore, only courses of action II and III follow.