As per the sources, it has been reported by the Food Corporation (FCI) that India’s rice stocks in the central pool as of March 1, 2016 stood at around 29.234 million tons (including a milled equivalent of about 9.81 million tons of paddy) which is up about 23% from around 23.794 million tons recorded during the same period in last year. This increase in stocks can be contributed to higher than expected paddy procurement by the FCI and government agencies in the KMS 2015-16 (October – September). The FCI and other government agencies procured around 28.4 million tons as of March 2, 2016, up about 21% from around 23.42 million tons last year as quoted by Food Ministry.
Further, according to the data released by FCI, it has been indicated that month-over-month, India’s rice stocks in the central pool are up about 2% from around 28.95 million tons recorded on February 1, 2016. However, current rice stocks are up from the required buffer and strategic reserve norms of around 7.61 million tons for this time of the year. Total food grain stocks (including rice and wheat) in the central pool stand at around 46.233 million tons as of March 1, 2016, up about 6% from last year’s stock of around 43.618 million tons, and down about 6% from last month’s stock of around 49.329 million tons.
However, with regard to wheat stocks, it stands at around 16.865 million tons, which is down about 14% from last year’s stock of around 19.525 million tons and down about 17% from last month’s stock of around 20.335 million tons. Further, the government of India had revised the buffer norms for food grains, including rice, in the Central Pool in January 2015. As per the new norms, buffer stocks for food grains to be maintained with the FCI at this part of the year are around 21.41 million tons.