January 28, 2013

The Food Corporation of India (FCI) has intended to acquire over 42 million tonnes of wheat in the 2013-14 marketing season.

In the 2012-13 marketing season, wheat rocurement by government agencies was 38.48 million tonnes. Procurement will start on April 1 and continue till June 30 starting from Punjab and Haryana. The FCI will pay procurement agencies once it starts handling the stock. A huge procurement is expected from Punjab, Madhya Pradesh and Rajasthan. This will push up the country's food grain BSE of 4.60 % stock to a record of 90-95 million tonnes by June 1, which will include 40-42 million tonnes of wheat and the carryover stock of 39 million tonnes of rice and 23 million tonnes of wheat. In the previous year, the government had a grain stock of 82 million tonnes on June 1.

FCI officials say the monthly off-take of wheat was roughly three million tonnes and over five million tonnes for rice. As on January 1, the country has a stock of 34.38 million tonne of wheat and 32.2 million tonnes of rice against the strategic reserve and buffer stock norm of 25 million tonnes.