Trade and markets
 

Detail

Area
India
Commodity Group
Rice
Commodity
All
Date
16/01/2015
Policy Category
Stocks
Policy Instrument
Stock-holding policy
Description
Revised quantities mandated to be held in the Central Pool under the Buffer Stock Norms at the start of each quarter of the year. According to the decision, mandated stock levels of foodgrains (wheat and rice) as of 1 January were reduced by 3.6 million tonnes to 21.41 million tonnes (comprising 7.61 million tonnes of rice and 13.8 million tonnes of wheat) and by 200 000 tonnes to 21.04 million tonnes for 1 April (13.58 million tonnes of rice and 7.46 million tonnes of wheat). Stock norms for 1 July and 1 October were instead raised by 9.2 million and 9.6 million tonnes, respectively, to 41.12 and 30.77 million tonnes (including 13.54 million tonnes of rice and 27.58 million tonnes of wheat for 1 July and 10.25 million tonnes of rice and 20.52 million tonnes of wheat for 1 October). The revised quantities are inclusive of a 5.0 million tonne Strategic Reserve (2.0 million tonnes rice and 3.0 million tonnes wheat) applicable for all quarters of the year. Moreover, it announced that supplies would be released on the domestic market through open sales or exports, should inventories held at the Central Pool exceed these revised levels.