India’s foodgrains stocks at nearly 500 lakh tons, higher than buffer norms, says minister

 

India had foodgrains stocks of 496.12 lakh tons in its central pool as of mid-April, more than double the buffer norms followed by the government, the consumer affairs, food and public distribution minister said.

Ram Vilas Paswan said in a written reply that the central pool comprised of 282.35 lakh tons of rice (including paddy in terms of rice) and 213.77 lakh tons of wheat.

The foodgrains stocking norms for central pool requires a buffer of 210.40 lakh tons comprising of 135.80 lakh tons of rice and 74.60 lakh tons of wheat for the quarter April to June.

India is expecting a good monsoon after two straight years of drought that has caused deep stress in its agriculture sector, which employs nearly half the country’s population but contributes only 18 percent to its GDP.

 

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