State-run Food Corporation of India (FCI) held foodgrain stock of 46 million tonnes as on October 1, which is 53 per cent higher than the buffer norm.
According to the buffer norm, the FCI was required to keep a stock of 30.77 mt of foodgrain.
FCI’s latest data shows the corporation held 27.86 mt wheat and 18.18 mt rice, taking the total grain stock to about 46 mt as on October 1 of this year.
The stock, however, is higher than the year-ago period and also the actual buffer requirement for running the Public Distribution System (PDS), welfare schemes and other exigencies.
The corporation also sells surplus stock in the open market in times of a price rise or tight supply situation.
The FCI purchases the grain at the minimum support price directly from farmers.