Fci Rice Stock

Govt permits sale of 2.3 mn tonne of rice from FCI to ethanol makers

The government on Thursday permitted the sale of up to 23 lakh tonnes of rice from Food Corporation of India (FCI) stocks to grain-based ethanol distilleries, reversing a ban imposed last year. The food ministry, as per a directive, has allowed ethanol producers to participate in e-auctions and purchase rice between August and October 2024 under the Open Market Sale Scheme (OMSS). This decision comes as the government grapples with surplus rice stocks exceeding 540 lakh tonnes, prompting efforts to create storage space for the upcoming harvest. The ministry stated, "Maximum 23 lakh tonne may be allowed for lifting to ethanol distilleries." Ethanol makers can purchase rice through weekly e-auctions. Purchases are subject to ethanol allocation by oil manufacturing companies. The government had halted rice sales for ethanol production in July 2023. The ban coincided with restrictions on non-basmati white rice exports. The FCI has been conducting e-auctions for rice sales to private

CBI arrests FCI's General Manager Prem Singh Bhanot in bribery case

The CBI has arrested a general manager of the Food Corporation of India (FCI) posted in Bhubaneswar, Odisha, for allegedly receiving a bribe of Rs one lakh for securing a tender relating to transportation of rice, officials said. In addition to arrested General Manager Prem Singh Bhanot, the CBI has also arrested Manager (Accounts) of FCI Sanjoy Dey, Proprietor of M/s SP Traders and Suppliers Pvt Ltd Malina Dey and middleman Syed Hasnain Ahmed, they said. The CBI has alleged that Bhanot "aided and favoured" SP Traders and Suppliers Pvt Ltd in connection with the tender pertaining to 'Transportation of Rice Grain'. "An accused middleman contacted and informed the GM, FCI, that said Proprietor would like to offer him a bribe for having facilitated her in the allotment of work order in tender. The accused GM asked him to inform the Proprietor to give Rs 5 lakh as bribe in lieu of this favour rendered to her," said a CBI spokesperson. The agency carried out a trap operation in which ..

Centre keeping all options open to curb rice prices: Food secretary

At present, parboiled rice exports attract an export duty of 20 per cent that was imposed in August 2023

Govt plans to sell FCI rice under Bharat brand; price not yet decided

In order to check rice inflation, the government is considering a proposal to sell FCI rice under the 'Bharat' brand but the discounted rate has not yet been decided, a food ministry official said. The ministry's efforts to check retail rice prices by boosting domestic availability through sale of FCI rice via e-auction under the Open Market Sale Scheme (OMSS) has received a lukewarm response. "There is a proposal to retail 'Bharat rice' but the price has not yet been decided," the official told PTI on Wednesday. Under the OMSS, the Food Corporation of India (FCI) is offering quality rice at a reserve price of Rs 29 per kg. "Whether to sell Bharat rice at the same rate or reduced rate, the decision has to be taken by the Group of Ministers," the official added. The government is already selling wheat flour (atta) and pulses under the Bharat brand through outlets managed by the National Agricultural Cooperative Marketing Federation of India (NAFED), National Cooperative Consumers' .

FCI sells 429,000 MT wheat, 14,760 MT rice in West Bengal via e-auction

The Food Corporation India (FCI) has sold 4.29 lakh metric tonnes of wheat and 14,760 metric tonnes of non-fortified rice through 25 open market e-auctions in West Bengal from June to December this year, an official of the agency said on Saturday. FCI Deputy General Manager (West Bengal region) Pradeep Singh said the Open Market Sales Scheme (domestic) had been done through the e-auction portal of M-junction. "In a bid to stabilise the prices of the cereals and also to increase affordability for the general public, the FCI has sold 4.29 lakh metric tonnes of wheat and 14,760 metric tonnes of non-fortified rice in West Bengal through 25 open-market e-auctions from June to December this year," Singh said. The FCI will also continue to supply the staples through the public distribution system (PDS) free of cost, he said. While the reserve price of wheat for e-auction sales is Rs 2,150 per quintal, it is Rs 2,900 per quintal for non-fortified rice. Singh said fortified rice is supplie

Rice inflation: FCI chief appeals traders to buy grain under OMSS

Expressing concern over rice inflation, FCI chief Ashok K Meena on Friday asserted that the PDS rice is of "extremely" good quality and urged traders to buy the grain under the Open Market Sale Scheme (OMSS) to boost domestic availability and contain price rise. To encourage more participation of rice traders and processors under the OMSS, the Food Corporation of India (FCI) on Friday increased the bid quantity to 2,000 tonnes per bidder from 1,000 tonnes and the minimum bid quantity was reduced to 1 tonne from 10 tonnes, he said. The positive response received for wheat sales under the OMSS has helped keep wheat and atta prices under check. In the case of rice, the offtake of grain has not been much, so far, under the scheme, he added. Briefing media, FCI Chairman and Managing Director Meena said, "Rice inflation data is slightly a concern. It is at 13 per cent year-on-year, which is a cause of worry. That's why we are selling rice under the OMSS". However, rice sale has been only

India's November rice stocks at state warehouses around double target

Coupled with the new season crop that has started trickling into the market, the surplus indicates comfortable supplies for the domestic market

After denying rice to Karnataka, FCI struggles to find bidders in e-auction

Only private entities were eligible to participate in the auction

FCI foodgrains stock down by 37% from last year; yet higher than buffer

Centre's foodgrains stock managed by the Food Corporation of India remains 66% higher than the buffer norm

Use of FCI rice for ethanol making only an interim measure: Centre

Will achieve 8-8.5 per cent blending with petrol this year, says food secretary Sudhanshu Pandey

Centre's Garib Kalyan Scheme and the reality of a burgeoning subsidy bill

While govt would have saved Rs 18,000 cr by distributing 33 mn tonnes of grains that would otherwise have gone waste, its subsidy payout amounts to Rs 45,000 cr

FCI rice stock hits 5-year high at 25 million tonnes

According to the official Second Advance Estimates, the country's rice output is estimated at 111.01 mt for 2017-18, a record