Despite low procurement, Food Corporation has sufficient stock of rice
02-Jul-2024 05:41 PM
New Delhi. The current stock of rice with Food Corporation of India (FCI) is about three and a half times more than the minimum required buffer quantity.
At present, the fact is that the government procurement of paddy decreased during the current marketing season as compared to last year. According to the available data, on July 1, 2024, a total stock of 489.50 lakh tonnes of rice was present in the ownership of Food Corporation.
Out of this, a stock of 329 lakh tonnes was lying in various godowns / warehouses while the remaining 160.50 lakh tonnes of rice was to be received by it from rice millers. Rice millers have already been allotted paddy for custom milling.
It is worth mentioning that on July 1, there is a rule to have a stock of at least 135.40 lakh tonnes of rice in the central pool.
According to official sources, even if the procurement remains closed during the next marketing season (October 2024-September 2025), the current stock of rice can easily meet the needs of the Public Distribution System (PDS).
It is understood that a decision can be taken soon by the Mandis Committee regarding the withdrawal of surplus stock of rice available in the central pool.
According to the available data, although the total procurement of paddy during the current marketing season (October-September) of 2023-24 reached above 775.50 lakh tonnes,
which is equivalent to 520.70 lakh tonnes of rice, it is still 8 percent less than the procurement of the same period last year. It is worth noting that a total of 568.70 lakh tonnes of rice was purchased by the government in the marketing season of 2022-23.
The Food Corporation needs about 380 lakh tonnes of rice per year for distribution among 80 crore beneficiaries under the Pradhan Mantri Garib Kalyan Anna Yojana.
The sale of Bharat Brand Rice is continuing and agencies like NAFED, NCCF and Kendriya Bhandaar have expressed their desire to buy 15 lakh tonnes of rice so far. Out of this, 10 lakh tonnes of rice has already been lifted.