Record Rice Harvest Leaves India with Massive Grain Surplus, Challenges Ahead for Food Corporation
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Robust paddy procurement this season likely to leave FCI with over 2x the required rice buffer stock
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FCI has sold just 1 lakh tonnes of rice in open market so far, making target of selling 25 lakh tonnes unlikely
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Scrapping open market sale scheme to states and halting rice sale to ethanol plants contributing to excess stock
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With 194 lakh tonnes stock now against 76 lakh tonnes buffer norm, more procurement coming
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Govt may use excess stock for additional allocation to poor via schemes like PMGKAY ahead of 2023 elections