Despite wheat stock plummeting, even at current level, it is higher than statutory buffer stock requirement at this point of time. As per norm, in April, FCI must have 74.6 lakh tonne of the foodgrain.
“The stock is enough to meet National Food Security requirement and it’s more than the buffer norm. Procurement season has also started from March 1 and we are expecting much better procurement than past two years,” said an official.
Govt has estimated wheat procurement to be around 320 lakh tonne and will put govt in a comfortable position.
In June 2023, govt started selling wheat in open market to increase its availability and check prices. By Feb end, FCI had sold over 90 lakh tonne as market intervention. Open market sale has been discontinued since public procurement has started. In case of rice, current stock with FCI is around 270 lakh tonne, excluding close to 30 lakh tonne of grain receivable from millers. As per buffer norms, FCI must keep around 136 lakh tonne rice as on April 1.
