Key Points
The Food Corporation of India (FCI) has reported a decline in wheat stocks, falling below 100 lakh tonnes for the first time since 2018, standing at 97 lakh tonnes this month..
This decrease is attributed to low procurement over the past two years and a significant sale of the cereal in the open market to regulate prices..
However, in contrast, rice stocks held by FCI currently exceed four times the buffer norm...
Despite the drop in wheat stocks, the current level remains above the statutory buffer stock requirement, which stands at 74.6 lakh tonnes for April..
The government has projected wheat procurement to reach approximately 320 lakh tonnes, ensuring a favorable position for the government..
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