Govt's foodgrains inventory up 21 pc as of April 1

The government's foodgrains stock rose by 21 per cent to 53.4 million tonnes as of April 1 from 44.3 million tonnes the year-ago period, according to the Food Corporation of India ( FCI).

Wheat inventory jumped to 19.95 million tonnes from 15.4 million tonnes a year earlier, the FCI said on its website.

Similarly, rice stock rose to 33.35 million tonnes from 28.82 million tonnes the year-ago period, it said.

Wheat and rice reserves with the government are, however, much higher than the required norm of 21.2 million tonnes as of April 1.

FCI, the nodal agency that undertakes procurement and distribution of foodgrains, has maintained maximum foodgrains stock in northern and eastern parts of the country.

The government's grains inventory has build up due to record production and procurement in last few years. This year too, the FCI is targeting to buy a record 35 million tonnes of rice and 32 million tonnes of wheat.

Currently, the procurement operation is going on and the state-run agency has so far bought 29.54 million tonnes of rice and 14,86,183 tonnes of wheat that were grown in the 2011-12 crop year (July-June).

The country is poised for an all time record harvest of rice and wheat at 102.75 million tonnes and 88.31 million tonnes, respectively, this year.