Cereal stocks swell, wheat procurement crosses 24MT

The Food Corporation of India has purchased over 24 million tonnes of wheat, surpassing the cereal stock threshold necessary for India’s food security requirements. The government will continue to buy wheat in an open-ended manner, with an estimated procurement of 34 million tonnes this year. The combined stock position of wheat and rice in state-owned granaries is now well above 55 million tonnes, putting the country in a comfortable position.