Government's efforts to reduce huge stock of rice continue

01-Aug-2024 10:26 AM

New Delhi. Currently, there is a stock of 326.80 lakh tonnes of rice in the central pool, while Food Corporation of India (FCI) is going to receive additional stock of 128.90 lakh tonnes of rice from rice millers. Under this, rice stock has already been allocated to rice millers for custom milling.

In this way, the total stock of rice with the corporation can be considered to be 455.70 lakh tonnes, which is more than four times the minimum buffer quantity of 102.50 lakh tonnes required for October 1.

It is worth noting that the government procurement season of Kharif paddy formally starts from October 1.

The paddy production area could reach 215.97 lakh hectares till July 26 in the current Kharif season, which was 42 thousand hectares behind the area of ​​216.39 lakh hectares in the same period last year.

With the help of monsoon rains, paddy sowing has started in full swing in various producing states and this trend will continue for the next few weeks.

It is expected that by the end of the current Kharif season, the total area under paddy cultivation at the national level may reach around or slightly above last year.

The Central Government is making various efforts to reduce the huge surplus stock of rice. Under the latest development, the States / Union Territories have been allowed to buy rice as per their requirement directly from the Food Corporation of India (FCI) warehouses at the rate of Rs 2800 per quintal.

This process will start from today i.e. 1 August. Although efforts will continue to sell rice under the Open Market Sale Scheme (OMSS), the experience of the last financial year was not very pleasant for

the government in this matter as it was able to sell only 1.90 tonnes of rice under this scheme. Good purchases by the states may help in reducing the stock of rice in the central pool.