India’s wheat stocks with FCI continue to be at 16-year low, down by 5% from a year ago
The Food Corporation of India (FCI) reports a 4.7% decrease in wheat reserves to 29.91 million tonnes on June 1 from 31.39 million tonnes last year. In contrast, rice stocks have risen 21.8% to 50.46 million tonnes from 41.42 million tonnes in 2023. Analysts suggest ample rice stocks and surplus wheat could stabilize foodgrain supplies, contingent on favorable 2024 weather conditions for a projected bumper harvest.
The official reserves of wheat, maintained by the Food Corporation of India (FCI), have dropped 4.7 per cent to 29.91 million tonnes (mt) as of June 1 from 31.39 mt in the year-ago period. But the stockpiles of rice are higher by 21.8 per cent at 50.46 mt now against 41.42 mt in 2023. A comfortable position in rice and more than the required quantity of wheat may help the government manage the foodgrain situation, provided the weather remains favourable in 2024 to hope for a bumper output, experts said.
