Foodgrain stocks in the Central Pool stood at 47.93 million tonnes as on October 1, more than twice the buffer norms and strategic reserves for the period.
The stocks included 32.85 mt of wheat and 15.08 mt of rice, according to provisional estimates by the Food Corporation of India. Stocks with FCI were estimated at 26.23 mt, while State agencies held the rest.
The high and comfortable Central Pool foodgrain stocks, ahead of the commencement of the kharif harvest season, should augur well for the Government as the country faced the weakest monsoon this year since 2009. The erratic monsoon is expected to impact the productivity and production of most of the kharif crops including rice this year.
According to the first advance estimates, foodgrain production during kharif this year is expected to be lower by about 8.97 mt at around 120.27 mt. Rice output is estimated at 88.02 mt, lower by 3.67 mt as compared with last kharif’s record production of 91.69 mt.
The delayed recovery in monsoon that has enhanced soil moisture levels should boost the prospects for rabi or winter sowings.