Rice buffer stock tops 10 million tonnes: FCI news
06 December 2007

Mumbai: The buffer stock of rice in the country stood at 10.05 million tonnes as of 1 December 2007, against a buffer stock of 5.2 million tonnes on 1 October, figures released by the Food Corporation of India (FCI) showed.

The total wheat buffer stock in the country stood at 8.36 million tonnes on 1 December against a buffer of 11 million tonnes on 1 October.

The government fixes the minimum buffer stock every quarter to ensure adequate supply of foodgrains.

In a notification issued today, the government has asked private traders and rice purchasers to declare the rice stock during the kharif marketing season (October-September).

The Rice (Stock Declaration by Companies or Firm or Individuals) Order 2007 requires private purchasers to inform food secretaries of states in which a majority of purchase is made, if purchase is more than 10,000 tonnes.

The buyers will have to report to the union food ministry if it exceeds 25,000 tonnes, according to the order.

The state governments will submit a consolidated monthly report to the union food ministry by the 10th of every month.

Government agencies have procured 9.61 million tonnes of paddy as of 4 December, down 9.3 per cent from same time last year, despite increasing the intervention price to Rs745 per quintal for common rice and Rs775 for Grade A rice.

The government plans to procure 27 million tonnes of rice during the kharif marketing year to build a comfortable buffer stock.

also see :

 search domain-b
Rice buffer stock tops 10 million tonnes: FCI