Government procurement of rice reaches above 500 lakh tonnes

10-Jun-2024 10:38 AM

New Delhi. In the current marketing season (October-September) of 2023-24 for the central buffer stock, so far 500.90 lakh tonnes of rice has been procured by the Food Corporation of India (FCI), which is 5.7 percent less than the procurement of 531.10 lakh tonnes in the 2022-23 season. This procurement figure is till 31 May 2024.

Under this, 462.10 lakh tonnes of rice produced in the Kharif season and 38.90 lakh tonnes of rice in the Rabi season have been procured.

The procurement process of Kharif rice has already ended, while procurement for the Rabi season is still going on.

It is noteworthy that the Central Government had set a target of procuring 524.90 lakh tonnes of rice in the Kharif season of 2023-24 and 103.20 lakh tonnes of rice in the Rabi season.

The procurement of Kharif season remained behind the target by about 60 lakh tonnes, while the procurement so far in the Rabi season has been satisfactory.

Last year, 36 lakh tonnes of Rabi season rice was purchased in April-May, which increased to 39 lakh tonnes this time.

The government needs 400-410 lakh tonnes of rice annually for supply in various welfare schemes. According to official figures, at the time of the start of the new marketing season on October 1, 2023, the Food Corporation had a huge outstanding stock of 315 lakh tonnes of rice, while during the current season, about 501 lakh tonnes were procured till May 31.

In this way, the total availability of rice will increase to above 800 lakh tonnes. Out of this, after the consumption of 400-410 lakh tonnes, the government may have a stock of more than 400 lakh tonnes of rice left as the procurement of Rabi season rice is still going on.