The Food Corporation of India (FCI) maintained a wheat stock in the Central Pool as on June 1, 2016 was 326.38 lakh MT (LMT). Whereas, the annual requirement under National Food Security Act (NFSA) is around 240 LMT, Ministry of Consumer Affairs & Public Distribution said in a statement today.
As per stocking norms as on April 1, FCI has to maintain wheat stocks of 74.60 lakh MT(LMT), whereas 145.38 LMT wheat stocks were available in central pool as on 01.04.2016. During the current wheat procurement seasons, about 230 LMT wheat have been procured, the statement said.
FCI maintains adequate stock of foodgrains to deal with fluctuations in productions and to meet unforeseen natural calamities. A stocking norm prescribing the minimum quantity of rice and wheat that should be available in Central Pool at the beginning of each quarter to take care of operational requirements and above fluctuations, has also been approved by the Government of India.
FCI also releases wheat at pre-determined prices in the open market from time to time to enhance the supply of wheat especially during the lean season, to moderate the open market prices. The average sale under Open Market Sale Scheme – Domestic (OMSS- D) has been around 50-55 LMT. FCI is therefore having sufficient wheat stocks to meet the requirement under National Food Security Act and other welfare schemes and also to meet the demand of wheat under OMSS. In the current year, private traders have procured wheat aggressively estimated to 60-65 LMT. The demand under OMSS(D) is therefore expected to be lower. The wheat stocks position in the country is thus comfortable.