https://sputniknews.in/20221215/no-food-crisis-in-india-despite-wheat-stock-touching-six-year-low-101675.html
No Food Crisis in India Despite Wheat Stock Touching Six-Year Low
No Food Crisis in India Despite Wheat Stock Touching Six-Year Low
New government data suggests a six-year low in wheat stocks at warehouses. Stocks are estimated at 18.2 million tons, down from 37.85 million tonnes in... 15.12.2022, Sputnik India
2022-12-15T15:25+0530
2022-12-15T15:25+0530
2022-12-15T15:25+0530
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India has sufficient foodgrain stocks to meet the country's needs, including welfare schemes, the Consumer Affairs Ministry has assured amid reports about wheat stocks reaching the lowest level in six years this December.Wheat procurement last season decreased due to a fall in production and a jump in sales to traders. Traders increased their purchases in response to massive demand from Middle Eastern countries willing to pay higher prices due to food supply disruptions in the international market over the Ukraine crisis.Under India's nationwide welfare scheme, five kilos of free grain is provided to the most vulnerable citizens per month.Global Food CrisisWheat prices have jumped nearly 28 percent in the Indian market since May when the government imposed export restrictions due to a jump in demand from Middle East and Asian countries. Delhi claimed that it was fully aware of the price scenarios for wheat and is monitoring prices on a regular basis to initiate corrective measures if required.The official stats suggest that the country will have about 15.9 million tons of wheat by January 1, 2023 -- well above the buffer of 13.8 million tons requirement at the start of the year. As on December 12, around 18.2 million tons of wheat are available in the Central Pool.Wheat procurement next season is due to commence in April 2023. Initial assessments indicate a fair increase in wheat sowing compared to this year.
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global wheat prices, world's biggest food program, indian prime minister narendra modi, food crisis in india
global wheat prices, world's biggest food program, indian prime minister narendra modi, food crisis in india
No Food Crisis in India Despite Wheat Stock Touching Six-Year Low
New government data suggests a six-year low in wheat stocks at warehouses. Stocks are estimated at 18.2 million tons, down from 37.85 million tonnes in December last year.
India has sufficient foodgrain stocks to meet the country's needs, including welfare schemes, the Consumer Affairs Ministry has assured amid reports about wheat stocks reaching the lowest level in six years this December.
Wheat procurement last season decreased due to a fall in production and a jump in sales to traders. Traders increased their purchases in response to massive demand from Middle Eastern countries willing to pay higher prices due to food supply disruptions in the international market over the Ukraine crisis.
"Enough stock of wheat will still be available in Central Pool to cater to the needs of the country till the time next wheat crop arrives," the ministry said in a statement on Thursday.
Under India's nationwide welfare scheme, five kilos of free grain is provided to the most vulnerable citizens per month.
Wheat prices have jumped nearly 28 percent in the Indian market since May when the government
imposed export restrictions due to a jump in demand from Middle East and Asian countries.
Delhi claimed that it was fully aware of the price scenarios for wheat and is monitoring prices on a regular basis to initiate corrective measures if required.
The official stats suggest that the country will have about 15.9 million tons of wheat by January 1, 2023 -- well above the buffer of 13.8 million tons requirement at the start of the year.
As on December 12, around 18.2 million tons of wheat are available in the Central Pool.
The government expects a jump in wheat output this year owing to a hike in selling price and “fairly good climatic conditions.”
Wheat procurement next season is due to commence in April 2023. Initial assessments indicate a fair increase in wheat sowing compared to this year.
