FCI holding foodgrain stock of 46 million tonne

State-run Food Corporation of India (FCI) was holding foodgrain stock of 46 million tonne as on October 1, which is 53 per cent higher than the buffer norm.

As per the buffer norm, the FCI was required to keep a stock of 30.77 million tonne (MT) of foodgrain.

FCI's latest data shows the corporation was holding 27.86 MT wheat and 18.18 MT rice, taking the total grain stock to about 46 MT as on October 1 of this year.

The stock however is higher than the year-ago period and also the actual buffer requirement for running the Public Distribution System (PDS), welfare schemes and other exigencies.

The corporation also sells surplus stock in the open market in times of price rise or tight supply situation.

The FCI purchases the grain at the minimum support price directly from farmers.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)