Availability of wheat in markets to be higher than last year: Govt

Singh, who was speaking at an event organised by Roller Flour Millers’ Federation of India, said the government has also been successful in bringing down prices of wheat and wheat flour by releasing wheat from the Central pool under the Open Market Sale Scheme (OMSS).

This year, according to the Second Advance Estimates of Production of Foodgrains for 2022-23, India’s wheat production is estimated to reach its highest-ever level — 112.18 MT. Last year, the total production of wheat was 107.74 MT.

Ashok Kumar Meena, Chairman & Managing Director, Food Corporation of India, said: “84 lakh metric tonnes wheat is available in the Central pool as on April 1, 2023, which is higher than the buffer stock norms. This means that India has sufficient stock of wheat to fulfil its demand,” Meena said.

As per the FCI’s Current Foodgrains Stocking Norms, which are effective since July 1, 2017, a stock of 74.60 LMT (lakh metric tonne) wheat is required to be maintained as on April 1 every year.

On April 1, 2022, wheat stock in the central pool stood at 189.90 LMT, which was more than double of the figure recorded on April 1, 2023.

Meena said that 7 LMT of wheat has already been procured so far during the ongoing Rabi marketing season. He expressed hope the government will achieve the wheat procurement target of 342 LMT.

“If we achieve the 342 lakh metric tonnes figure, our primary responsibility will be 100 per cent achieved, we will also have sufficient quantity to release under the Open Market Sale Scheme (OMSS).

“I would request members of the market — processors are also members there. Traders are also members there. All of them should take this into consideration and ensure price stability in the Indian market. Let’s not be affected by price volatility playing out at the international level because of global considerations,” said Meena.