The government is now able to fulfill the legal requirement and sell 90 lakh tonnes of wheat on the open market thanks to the 346 lakh tonnes of wheat that are now in storage at the Food Corporation of India (FCI).
The FCI’s opening stock was 84 lakh tonnes as of April 1, and the current purchase is anticipated to reach 265 lakh tonnes.
Extra Stock of Wheat
After purchasing the new winter crop on Tuesday, which totaled 262 lakh tonnes, the Food Corporation of India’s (FCI) total stock of wheat reached 346 lakh tonnes. With the option to sell about 90 lakh tonnes of wheat on the open market to control prices, the government will be in a good position to meet the legal requirement.
According to government data, the FCI had an opening stock of 84 lakh tonnes of wheat as of April 1, and the current procurement is anticipated to reach 265 lakh tonnes.
- The government has the option to sell 90 lakh tonnes of wheat on the open market to meet legal requirements.
- FCI has 84 lakh tonnes of wheat, expected to reach 265 lakh tonnes.
- The government will have an excess of 85-90 lakh tonnes to sell wheat in the open market.
The government needs roughly 184 lakh tonnes of wheat to fulfill its obligations under the national food security policy and other welfare schemes.
The FCI must have at least 75 lakh tonnes as of April 1 of the following year to meet stocking requirements. Consequently, the government will have an excess of 85–90 lakh tonnes for market interventions. As and when there is a need, we can sell the wheat in the open market, the official stated.
