The Hindu : National : Wheat stocks comfortable despite shortfall in procurement: Centre

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Friday, Jun 10, 2005

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National

Wheat stocks comfortable despite shortfall in procurement: Centre

Gargi Parsai

Food Secretary discounts the view of speculation in the futures market "The shortage of two million tonnes in wheat procurement will be made up in rice procurement, which is likely to be one million tonne more than last year"

NEW DELHI: Despite a shortfall of about 20 lakh tonnes in wheat procurement this rabi, there are sufficient stocks in the Central pool to meet the requirements of the Targeted Public Distribution System and welfare schemes, including the National Employment Guarantee Scheme, the Government said on Thursday.

Speaking to mediapersons here, Food Secretary S.K. Tuteja said, "we are comfortable with wheat stocks" and procurement was still on. "By the end of the procurement season on June 30, we may even touch last year's level. About 147.66 lakh tonnes was procured so far, against the procurement of about 167.95 lakh tonnes till the end of June last year. Only on July 1 would the Government have a stock of 188 lakh tonnes, including for welfare schemes and the open market sale scheme.

The annual wheat requirement was in the range of 150-160 lakh tonnes. It might go up for the food-for-work programme if monsoon was erratic. The average annual consumption of wheat in the country was 42 per cent against 58 per cent of rice.

Rice procurement this year was 224 lakh tonnes against 228 lakh tonnes last year.

The shortage of two million tonnes in wheat procurement would be made up in rice procurement, which was likely to be one million tonne more than last year.

Mr. Tuteja said there was no wheat export after October 1, 2004. Last year about 9 lakh tonnes of foodgrains was exported, of which wheat accounted for three-four lakh tonnes. For now, wheat imports carried 100 per cent duty.

Wheat production this year was estimated at 73.5 million tonnes against 72.1 million tonnes last year. The Food Corporation procured about 22 per cent of the entire produce.

The Secretary discounted the view that the shortfall in procurement was due to speculation in the futures market but agreed that some stocks might have been held back "here and there" for speculation. Private players also picked up some quantities.

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