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Informist, Friday, Jan. 10, 2025

--FCI: Food grain stocks 47.5 mln tn as of Jan 1 vs 34.5 mln tn yr ago 
--FCI: Rice stocks at 29.1 mln tn as of Jan 1 vs 18.2 mln tn year ago 
--FCI: Wheat stocks at 18.4 mln tn as of Jan 1 vs 16.4 mln tn yr ago 
 

MUMBAI – The government's wheat stocks with Food Corp. of India were at 18.4 million tonnes as of Jan. 1, up 12.6% from a year ago, according to data from the nodal food procurement agency. Wheat stocks were, however, down 10.7% from 20.6 million tonnes in December, the data showed. 

Wheat stocks were above the buffer norms for this quarter. According to buffer norms, the minimum wheat stocks for Jan-Mar should be 13.8 million tonnes – operational stock of 10.8 million tonnes and strategic reserve of 3 million tonnes. The government sets the buffer requirement of food grains for every quarter, and the FCI has to maintain the mandated level.

As of Jan. 1, total food grain stocks with the FCI were 47.5 million tonnes, down 2.3% on month, but up nearly 37.6% on year. On Jan. 1 last year, food grain stocks with the FCI were 34.5 million tonnes, according to the data. 

Total food grains in government warehouses have risen on the back of rising rice stocks. Rice stocks in the Central pool were up 60.1% on year at 29.1 million tonnes as of Jan. 1, the data showed. 

Amid ample rice stocks with the Centre and higher than normal paddy acreage in the kharif season, the government in October removed curbs on exports of non-basmati white rice, parboiled rice, brown rice, and paddy. In July 2023, the government prohibited the export of non-basmati white rice due to concerns over lower paddy acreage and to control soaring rice prices.

Along with removing the curbs on rice exports, the government also allowed ethanol distilleries to participate in FCI's weekly auctions of rice. In an effort to reduce stocks, the Centre also allowed states to buy the grain directly from the FCI through open market sales, without participating in the electronic auction.

The current rice stocks are far above the buffer norm of 7.6 million tonnes – operational stock of 5.6 million tonnes and strategic reserve of 2.0 million tonnes. End

Reported by Shreya Shetty

Edited by Saji George Titus

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