India’s wheat, rice stocks comfortable to meet needs, says Food Ministry

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The Food Ministry said on Thursday that India’s wheat and rice stocks in the central pool are comfortable at over 57.9 million tonnes and the country can meet its grain needs. “The combined stock of wheat and rice in the central pool is over 57.9 metric tons (wheat 31.2 million tons and rice 26.7 million tons), which put the country in a comfortable position to meet its food grain requirements,” the ministry said in a statement. .

The situation was better than on May 1 when stocks in the central pool were 55.53mt with wheat at 29.02m and rice at 26.5mt. In addition to rice and wheat, the Food Corporation of India, which maintains the central pool, has 22.69 metric tons of rice (which can yield 14.52 metric tons of rice) and 0.5 metric tons of coarse grain.

lowest level in six years

Stocks are well above the mandatory benchmark of 21.04 metric tons for the period, including strategic reserves of 3 million tons of wheat and 2 million tons of rice. However, Central Compound inventories are at a 6-year low with wheat stocks at a 15-year low and rice at a 4-year low. The ministry said that the procurement of rice is proceeding smoothly, while the procurement of wheat “is proceeding smoothly”.

FCI has purchased 38.5 metric tons of rice as of May 30 during the Khareef marketing season with another 11 million tons slated to be purchased. In addition, it is estimated that 10.6 metric tons of rice will be procured during the Rabi marketing season. Progressive purchases of wheat reached 26.3 million tons as of May 30, surpassing last year’s purchases of 18.8 million tons. Purchase has ended in some major countries.

About 21.27 thousand farmers benefited from wheat purchases at the lowest subsidy price (MSP) of EGP 2,125 per quintal resulting in an inflow of about Rs. 47,000 crore to the government. Major contributors to wheat purchases came from Punjab, Madhya Pradesh and Haryana with purchases of 12.13 mt, 7.09 mt and 6.32 mt respectively.

The ministry said the government’s decision to ease quality specifications in wheat, which was affected by sudden rains, and to open purchasing centers at village and panchayat levels helped in “healthy procurement”.

Procurement through cooperative societies and Ppanchayats gr Arhatias (commission agents) and the involvement of farm producer organizations to purchase the central complex were additional factors that helped the center.