Central Pool breaks buffer stock norms

The Dollar Business Bureau

The stocks in the central pool is double of what is required for buffer norms that are used to tackle emergency like situations, said Ram Vilas Paswan, Minister of Consumer Affairs, Food and Public Distribution.

As of 16th April 2016, food grains stocked at the Central Pool is estimated to be 496.12 lakh tonnes. The pool comprises 213.77 lakh tonnes of wheat and 282.35 lakh tonnes of rice. The total acquisition of current stocks shows a significant growth when compared to last year, which was 280.87 lakh tonnes.

The possession of more than 4 lakh tonnes of foodgrains was against the buffer norms (stocking norms) that permit buffer stocking of 210.40 lakh tonnes. It includes 74.60 lakh tonnes of wheat and 135.80 lakh tonnes of rice, for April-June quarter, said Paswan in a written statement that was addressed to the Lok Sabha.

On Monday, the government said that during the Rabi season (as of 2 May 2016), it has acquired 208.11 lakh tonnes of wheat from farmers. 

In FY2016, the purchase of wheat during the Rabi season was 189.27 lakh tonnes, which means, the growth in procurement so far is 18.84 lakh tonnes.

Punjab topped in the process by acquiring 98.94 lakh tonnes, followed by Haryana and Madhya Pradesh with 64.64 lakh tonnes and 36.05 lakh respectively.