FCI plans to hasten foodgrain sales, may expedite wheat selling in bulk

Experts believe the government is committed to buy wheat and rice from Punjab and Haryana, given the political forces there

With record inventory, government-owned Food Corporation of India (FCI) wants to expedite foodgrain sales to make warehouse space available for next season’s procurement, as well as to calm the heated market. 

After record grain output in 2017-18, it saw a sharp rise in rice and wheat procurement with aggressive Minimum Support Price (MSP) buying. As of end-June, it had a record 24.3 million tonnes of rice and 43.8 mt of wheat.

Since then, it has released 5.3 mt of both, bringing down their total inventory in the central pool at 62.7 mt. However, even this is a record level.

“FCI along with state