Increase in government stock of rice - further increase expected

16-Oct-2024 07:47 PM

New Delhi. During the current month (October), the stock of rice in the central pool increased to 311 lakh tonnes, which is the highest level for this month in the last two decades.

After custom milling of paddy purchased in the last Kharif and Rabi seasons, the millers are regularly supplying rice to the Food Corporation and now the government has also started purchasing new paddy.

During the current Kharif marketing season of 2024-25, the Food Corporation has set a target of purchasing paddy equivalent to 485 lakh tonnes of rice.

The marketing season has started from October 1. There is very limited lifting of rice under the Open Market Sale Scheme (OMSS) and the export of government rice is also very low.

The government has allocated a quota of 23 lakh tonnes of rice for ethanol manufacturers, but due to its high minimum reserve price, distillers are not showing much interest in its purchase.

Apart from this, the supply of wheat has started again in the ten states where the government had earlier stopped the distribution of wheat under the National Food Security Act and increased the rice, due to which the distribution of rice has become limited.

During the Kharif Marketing Season of 2023-24, paddy equivalent to 463 lakh tonnes of rice was purchased by the Food Corporation of India.

This time the area of ​​paddy has increased and the monsoon rains have also been good, so there is a possibility of increase in production.

On this basis, the procurement target has been increased. Under the Pradhan Mantri Garib Kalyan Anna Yojana, 380 lakh tonnes of rice is required annually for distribution among more than 80 crore beneficiaries.

At the beginning of October last year, there was a stock of 222 lakh tonnes of rice in the central pool.