BKC Aggregators: Transforming Lives, One Farmer at a Time

Addressing Surplus Rice Stocks The FCI’s warehouses are currently holding rice stocks that are nearly four times the required buffer stock. The high reserve price previously deterred purchases by ethanol distilleries and state agencies, which has exacerbated the surplus. By lowering the price, the government intends to: Alleviate excess stocks. Encourage more efficient distribution of rice to various stakeholders. Enhance the affordability of raw materials for ethanol production. Stock & Procurement As of Nov 2024, Rice stock is 440.76 LMT, against the buffer norm of 102.50 LMT. Reduction in Reserve Price of Rice under OMSS: A Strategic Step Towards Food Security and Sustainable Energy In a significant move to address the surplus rice stocks and promote sustainable energy, the Indian government has announced a reduction in the reserve price of rice held by the Food Corporation of India (FCI) under the Open Market Sale Scheme (OMSS). The reserve price has been slashed ...

In recent years, wheat prices have soared to unprecedented levels, prompting the government to implement several measures to control the surge. The government had been attempting to initiate the Open Market Sale Scheme (OMSS) since August; however, it was only successfully launched in December. In the first tender held on December 11, 100,000 tonnes of wheat were offered, out of which 99,815 tonnes were sold. Another tender held on the 26th, an offer of 100,000 tons of wheat was made, out of which 99,465 tons were sold, where another 100,000 tonnes of wheat will be offered on January 1st. The quantity of wheat to be sold under the OMSS is likely to increase in January. Last year, 3.50 lakh tonnes of wheat were sold in the second week of December, whereas this year, not even half of that quantity has been sold so far. More risk-taking traders have remained in the market for a few more weeks, while cautious players have exited at every price rise. Considering the anticipated price in...