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Industry Reports / Analysis, Sustainability, World

The benchmark measure of world food commodity prices ends 2023 about 10 per cent below its year-earlier level

The benchmark for world food commodity prices declined in December compared to the previous month, with the sharpest drop in international sugar quotations, the Food and Agriculture Organization of the United Nations (FAO) reported.
The FAO Food Price Index, which tracks monthly changes in the international prices of a set of globally traded food commodities, averaged 118.5 points in December, down 1.5 per cent from November and down 10.1 per cent from December 2022.
For 2023 as a whole, the index was 13.7 per cent lower than the average value over the preceding year, with only the international sugar price index higher over the period.
The FAO Cereal Price Index increased 1.5 per cent from November, as wheat, maize, rice, and barley prices all rose, partly reflecting logistical disruptions that hindered shipments from major exporting countries. For the year as a whole, the index was 15.4 per cent below the 2022 average, reflecting well-supplied global markets, although FAO’s All Rice Price Index (part of the FAO Cereal Price Index) registered a 21 per cent increase, largely owing to concerns about the impact of El Niño on rice production and in the aftermath of export restrictions imposed by India.
The FAO Vegetable Oil Price Index by contrast, declined by 1.4 per cent from November, reflecting subdued purchases of palm, soy, rapeseed, and sunflower seed oil, with soy oil in particular impacted by a slowdown in demand from the biodiesel sector as well as improving weather conditions in major growing areas of Brazil. For 2023 as a whole, this index was 32.7 per cent below the previous year’s level.
The FAO Sugar Price Index declined 16.6 per cent from November, hitting a nine-month low although still up 14. 9 per cent from December 2022. The plunge in sugar quotations was mainly driven by the strong pace of production in Brazil, along with the reduced use of sugarcane for ethanol production in India.
The FAO Meat Price Index dipped 1.0 per cent from November, reaching a level 1.8 per cent below that of December 2022, impacted by persistent weak import demand from Asia for pig meat. Regional buying interest also slowed for bovine and poultry meat despite ample exportable supplies in large producing regions. Ovine meat prices by contrast rose ahead of holidays.
Bucking the trend, the FAO Dairy Price Index increased by 1.6 per cent from November, although still standing 16.1 per cent below its December 2022 value. The monthly increase was led by higher price quotations for butter and cheese, underpinned by strong internal sales in Western Europe ahead of the holiday season. At the same time, strong global import demand led international whole milk powders to rise.

The benchmark measure of world food commodity

Foodgrains, India

Global trade in cereals in 2023-24 is forecast at 469 million tonnes, a 1.6 per cent contraction from the preceding year

Global cereal production this year is forecast to reach a record 2.81 billion tonnes, according to the Food and Agriculture Organisation of the United Nations’ latest Cereal Supply and Demand Brief released on Nov. 3.

Of note was higher projected coarse grain production in China and most of West Africa and lower forecasts for the United States and the European Union. Wheat output forecasts were raised for Iraq and the United States and revised downward for the European Union and Kazakhstan. World rice production in 2023-24 is forecast to increase marginally year-on-year. The new revisions include an upgrade to India’s production, more than offsetting various other revisions, particularly a further downgrade of Indonesian production prospects.

World cereal utilisation in 2023-24 is forecast to reach 2.810 million tonnes, with the total utilisation of both wheat and coarse grains set to surpass 2022-23 levels while rice utilisation is expected to stagnate at the previous season’s level.

The world cereals stocks-to-use ratio for 2023-24 is forecast to stand at 30.7 per cent, “a comfortable supply situation from a historical perspective” and marginally above the previous year’s level of 30.5 per cent, according to the FAO.

Global trade in cereals in 2023-24 is forecast at 469 million tonnes, a 1.6 per cent contraction from the preceding year.

The FAO also noted in a separate report that persisting and intensifying conflicts are aggravating food insecurity, and moderating international food commodity prices are being countered by weak currencies in many low-income countries. A total of 46 countries around the world, including 33 in Africa, are assessed to need external assistance for food, according to the latest Crop Prospects and Food Situation report, a triannual publication by FAO’s Global Information and Early Warning System (GIEWS).

Global trade in cereals in 2023-24 is

AgroPolicy, Foodgrains, India, Supply Chain

As a part of Govt of India’s initiative for market intervention to control the retail price of rice, wheat and atta, weekly e-auctions of both wheat and rice are organised

A total of 1.89 LMT wheat and 0.05 LMT rice were sold to 2255 bidders during the 15th e-auction under the Open Market Sale Scheme (Domestic) (OMSS[D]). A quantity of 2.01 LMT wheat from 481 depots and 4.87 LMT rice from 264 depots were offered from across the country.

As a part of Govt of India’s initiative for market intervention to control the retail price of rice, wheat and atta, weekly e-auctions of both wheat and rice are organised. In the e-auction, 2447 empanelled buyers participated for both wheat and rice.

The weighted average selling price was Rs. 2185.05/qtl for FAQ wheat against the reserve price of Rs. 2150/qtl Pan India whereas the weighted average selling price of URS wheat was Rs. 2193.12/qtl against the reserve price of Rs. 2125/qtl.

The weighted average selling price was Rs. 2932.91/qtl for rice against the reserve price of Rs. 2932.83/qtl Pan India.

In the current tranche of e-auctions, the reduction in retail price is being targeted by offering 10 to 100 tons maximum for a buyer for wheat and 10 to 1000 tons for rice. This decision is to encourage small and marginal end users and to ensure that more participants could come forward and bid for the quantity from their depot of choice.

In order to avoid hoarding of stocks traders were kept out from the ambit of wheat sale under OMSS (D) and regular checks/inspections are being made at the Flour Mills of the processors who have purchased wheat under OMSS (D). Till 04.10.23 1229 checks across the country have been made.

As a part of Govt of India's

AgroPolicy, Foodgrains, India, Supply Chain

The successful implementation of the OMSS(D) policy has ensured that the prices of wheat are kept under control in the open market

As a part of Govt of India’s initiative for market intervention to control the retail price of wheat and atta, the Food Corporation of India (FCI) is offering wheat under the Open Market Sale Scheme (Domestic) [OMSS(D)] through weekly e-auction at the reserve price of Rs. 2125/- per qtl which is at par with the current MSP of wheat.

A quantity of 2.00 LMT wheat is being offered in each weekly auction across the country from more than 480 depots and during the year 2023-24, till 21.09.2023 total of 13 e-auctions have been conducted wherein 18.09 LMT wheat has been sold under the scheme.

The weighted average selling price of wheat during August’23 was Rs. 2254.71/qtl which has come down to Rs. 2163.47/qtl in the e-auction dated 20.09.23. The downward trend in the weighted average selling price of wheat suggests that the market prices of wheat have cooled down in the open market. In each weekly e-auction conducted, the quantity sold has not crossed 90 per cent of the qty offered which shows that sufficient stocks of wheat are being offered across the country.

The successful implementation of the OMSS(D) policy has ensured that the prices of wheat are kept under control in the open market and sufficient stock of wheat is available in the central pool for the continuation of OMSS(D) policy for the remaining period of 2023-24.

The successful implementation of the OMSS(D) policy

AgroPolicy, Foodgrains, India

Reduction in retail price is targeted in the e-auctions to encourage small and marginal end users along with their maximum participation

As a part of the Government of India’s initiative for market intervention to control the retail price of rice, wheat and atta, weekly e auctions of both wheat and rice are organised. The 11th e-auction of 2023-24 was held. A quantity of 2.0 LMT wheat from 500 depots and 4.89 LMT rice from 337 depots were offered from across the country.

In the e-auction, 1.66 LMT wheat and 0.17 LMT rice were sold. The weighted average selling price was Rs. 2169.65/qtl for FAQ wheat against the reserve price of Rs. 2150/qtl Pan India whereas the weighted average selling price of URS wheat was Rs. 2150.86/qtl against the reserve price of Rs. 2125/qtl.

The weighted average selling price was Rs. 2956.19/qtl for rice against the reserve price of Rs. 2952.27/qtl Pan India.

In the current tranche of e-auctions, the reduction in retail price is being targeted by offering up to 100 tons maximum for a buyer for wheat and 1000 tons for rice. This decision is to encourage small and marginal end users and to ensure that more participants could come forward and bid for the quantity from their depot of choice.

In order to avoid hoarding of stocks traders were kept out from the ambit of wheat sale under OMSS (D) and regular checks/inspections are being made at the Flour Mills of the processors who have purchased wheat under OMSS (D). Till 05.09.23 898 checks across the country have been made.

Reduction in retail price is targeted in

Agro chems – Chemicals, Company News, India

Its unique composition provides prophylactic, curative, and eradicative actions, effectively targeting a wide spectrum of crop diseases such as Sheath blight, Powdery Mildew, Scab, and Alternaria

Best Agrolife Limited (BAL), a leading player in the agrochemical industry, unveiled BAL’s latest breakthrough, the fungicide ‘Tricolor’, and facilitated an engaging platform for more than 600 dealers in Kurnool and 1250 dealers in Guntur. The occasion highlighted BAL’s commitment to sustainable agriculture and pioneering agrochemical solutions.

‘Tricolor’, the latest innovation from BAL, was introduced among dealers, with all the benefits and uses. Comprising a potent blend of Trifloxystrobin 10 per cent + Difenoconazole 12.5 per cent + Sulphur 3 per cent SC, this cutting-edge fungicide offers comprehensive disease control measures. Its unique composition provides prophylactic, curative, and eradicative actions, effectively targeting a wide spectrum of crop diseases such as Sheath blight, Powdery Mildew, Scab, and Alternaria. The synergistic integration of the three active ingredients ensures enhanced efficacy, contributing to healthier crops of Rice, Tomato, Grapes, Chilli, Wheat, Mango, and Apple. 

Vimal Kumar, Managing Director, Best Agrolife, speaking at the launch, expressed his enthusiasm for Tricolor and its potential impact on farmers and the agricultural community. He stated, “Tricolor will play a pivotal role in elevating agricultural productivity and fostering the well-being of the farming community, not only in Andhra Pradesh but across India. Tricolor is an exceptionally potent fungicide with its comprehensive approach and a blend of Trifloxystrobin, Difenoconazole, and Sulphur. It addresses the multifaceted challenges faced in cultivating key crops within the region, promising higher yields and healthier produce.”

SBVR Prasad, Executive Director, Best Agrolife, highlighted the company’s vision, stating, “We are committed to providing farmer-needed products and conducting crop pest surveys to deliver the most favourable and beneficial products. What sets us apart is our competitive pricing with multinational companies as we aim to reach every farmer across the country. We look forward to prioritising the needs of our farmers and ensuring their success.”

Its unique composition provides prophylactic, curative, and

Company News, R&D, World

Dodhylex active is the first active ingredient in the HRAC/WSSA Group 28 and the first new herbicide with a novel mode of action in the industry

FMC Corporation, a leading global agricultural sciences company, announced Dodhylex active (pronounced DOH’-deh-leks) as the global brand name for tetflupyrolimet, a new mode of action herbicide effective on the most challenging grass weeds in rice.

“The global brand will ensure growers around the world recognise this novel mode of action in the newest herbicide products FMC expects to begin launching in 2025,” said Diane Allemang, FMC executive vice president and chief marketing officer. “Growers worldwide will have the confidence that products powered by Dodhylex active contain FMC’s patented active ingredient that’s backed by seven years of research, development and field testing.”

The Dodhylex name is derived from the site of action – dihydroorotate dehydrogenase – combined with the flexibility of use in both transplanted and direct-seeded rice and the herbicide’s ability to block the nutrients needed for the weed to survive.

“Dodhylex active is the first active ingredient in the HRAC/WSSA Group 28 and the first new herbicide with a novel mode of action in the industry in over three decades,” said Seva Rostovtsev, vice president and chief technology officer. “This new mode of action herbicide was discovered at the FMC Stine Research Centre and is a testament to FMC’s commitment to innovation and our disciplined approach to advancing the most promising new molecules. The molecule is a significant advancement for the agriculture industry as it will help combat resistant weeds.”

Studies show Dodhylex actively provides season-long control of important grass weeds in the rice market, as well as key broadleaf weeds and sedges. FMC is also testing Dodhylex active in other crops, including sugarcane, wheat, soybean and corn. 

Dodhylex active is the first active ingredient

AgroPolicy, Agrotech, Foodgrains, India, Sustainability

The goal is to establish a single and trustworthy source of data on crop cultivation

The Indian government has introduced a Digital Crop Survey (DCS) pilot project in 12 states during this year’s Kharif season. The goal is to establish a single and trustworthy source of data on crop cultivation. The DCS reference application is an open-source, inter-operable public good, and cadastral maps with GIS and GPS technologies ensure accurate farmland positioning. States were chosen based on their readiness for DCS, including geo-referencing of village maps and digitised Record of Right (RoR) with ownership extent.

The project aims to create reliable data on crop sowing, which is useful for accurate crop area estimation and the development of farmers’ centric solutions. The project is significant as India faces wheat and rice shortages despite record production estimates. The Minister of Agriculture and Farmers’ Welfare also acknowledged climate change’s impact on crop yields, particularly for rainfed rice, wheat, kharif maize, and mustard.

The ICAR’s National Innovations in Climate Resilient Agriculture (NICRA) network project projected a 20-47 per cent reduction in crop yield by 2050-2080 for rain-fed rice. Similarly, the projected reduction in crop yield could be 19.3-40 per cent for wheat and 18-23 per cent for kharif maize. Mustard’s crop yield is expected to decrease by 7.9-15 per cent.

ICAR has identified 109 districts as very high risk and 201 districts as high risk under its NICRA network project. The Minister also provided data on the availability of certified/quality seeds, which was 514.26 lakh quintals, exceeding the requirement of 464.14 lakh quintals for 2022-23.

The goal is to establish a single

AgroPolicy, Foodgrains, India

A quantity of 1.16 LMT wheat from 361 depots and 1.46 LMT rice from 178 depots were offered from across the country

The Food Corporation of India (FCI) organised the 5th e-auction of 2023-24 to sell wheat and rice.  The e-auction sold 1.06 LMT of wheat and 100 MT of rice.

In order to control the retail price of rice, wheat and atta, weekly e-auctions are being organised. The government of India is committed towards price stabilisation and its market intervention is aimed at providing relief to the consumers.

A quantity of 1.16 LMT wheat from 361 depots and 1.46 LMT rice from 178 depots were offered from across the country.

The weighted average selling price was Rs. 2182.68/qtl for FAQ wheat against the reserve price of Rs. 2150/qtl Pan India whereas the weighted average selling price of URS wheat was Rs. 2173.85/qtl against the reserve price of Rs. 2125/qtl.

The average selling price was Rs. 3151.10/qtl for rice against the reserve price of Rs. 3151.10/qtl Pan India.

In the current tranche of e-auctions, the reduction in retail price is being targeted by offering up to 100 tonnes maximum for a buyer for wheat and 1000 tonnes for rice. This decision encourages small and marginal end users and ensures that more participants could come forward and bid for the quantity from their depot of choice.

A quantity of 1.16 LMT wheat from

Agro chems – Chemicals, Company News, India

The company is also gearing up to launch its ambitious product Tricolor in July

Best Agrolife Ltd. recently received three more major registrations. BAL informed that the Central Insecticides Board & Registration Committee (CIBRC) had granted the registrations for Technical Indigenous manufacturing of Diclosulam technical 94 per cent minimum, Boscalid technical 96 per cent minimum and Dimethomorph technical 95.5 per cent minimum to one of its wholly owned subsidiary Best Crop Science Pvt. Ltd.

Diclosulam is a broadleaf herbicide that is used to control weeds in soybean and peanut crops, while Boscalid is a foliar fungicide against a broad range of fungal pathogens in a wide range of crops, including vegetables and other crops. It inhibits spore germination and germ tube elongation and is also effective in all other stages of fungal development. Dimethomorph is a systemic fungicide that protects potato, tomato and grape crops from fungi in the water mould family, such as root rot, crown rot, late blight and downy mildew.

“These registrations are crucial for our company and will enable us to serve the farming community better. Along with producing the technicals, we also have plans to develop their highly sought-after formulation products, which will expand our product line further and help us maintain the goal of 30 per cent growth and 20 per cent EBITDA margin,” said Vimal Kumar, MD of BAL.

“For example, Metiram 44 per cent + Dimethomorph 9 per cent WG and Dimethomorph 12 per cent + Pyraclostrobin 6.7 per cent WG are the major formulations of Dimethomorph whereas Boscalid 25.25 + Pyraclostrobin 12.8 per cent WG is the prime Boscalid formulation. Since approvals for Metiram and Pyraclostrobin technicals are already in place with the company, we can now develop these products in-house in both technical and formulations segments,” Vimal Kumar added.

It is significant to mention that BAL recently became the first Indian agrochemical company to manufacture both AI and formulations of Pyroxasulfone after getting the CIB registration for the domestic manufacturing of Pyroxasulfone 85 per cent WG. The company is also set to launch their much-awaited fungicide Tricolor, a combination product of Trifloxystrobin 10 per cent + Difenoconazole 12.5 per cent + Sulphur 3 per cent Sc. It effectively controls several crop diseases like Sheath blight, Powdery Mildew, Scab, and Alternaria in Rice, Tomato, Grapes, Chilli, Wheat, Mango, and Apple.

The company is also gearing up to

AgroPolicy, Foodgrains, Supply Chain

Over 1.22 Crore farmers benefit with MSP outflow of over Rs. 1,71,000 Crores during ongoing paddy procurement operations

Paddy procurement by the Government of India during the Kharif Marketing Season (KMS) 2022-23 has progressed smoothly. More than 830 Lakh Metric Ton (LMT) paddy has been procured for Central Pool up to 19.06.2023 under Minimum Support Price (MSP) operations. Over 1.22 crore farmers have so far benefited from the ongoing paddy procurement operations of KMS 2022-23 with an MSP outflow of Rs. 1,71,000 crores transferred directly into their accounts.

The Government has ensured that all arrangements are in place for hassle-free procurement operations. Rice delivery against the procured paddy is also in progress and against the procurement of 830 LMT paddy (558 LMT in terms of Rice), around 401 LMT rice has been received in the Central Pool up to 19.06.2023 with another 150 LMT yet to be received.

Wheat procurement during the ongoing Rabi Marketing Season (RMS) 2023-24 has also progressed smoothly. The progressive procurement of wheat in the current season up to 19.06.2023 is 262 LMT which is well above last year’s total procurement of 188 LMT by 74 LMT. About 21.29 Lakh farmers have already benefited from the ongoing wheat procurement operations with an MSP outflow of about Rs. 55,680 crores. Major contribution in the procurement has come from three procuring states of Punjab, Madhya Pradesh and Haryana with procurement of 121.27 LMT, 70.98 LMT and 63.17 LMT respectively.

The MSP payment to the farmers this year for the procurement of wheat and paddy combined is Rs. 2,26,829 crore against last year’s total payment of Rs. 2,05,896 crore.

With the current procurement of wheat and rice, adequate food grains stock in Government granaries is maintained. The combined stock position of wheat and rice has reached 570 LMT which puts the country in a comfortable position to meet its requirements of food grains.

Over 1.22 Crore farmers benefit with MSP

Agro chems – Chemicals, Agrotech, Company News, India

The market for Pyroxasulfone is more than 450 crore; BAL will introduce the Pyroxasulfone products in October this year

Best Agrolife Ltd. (BAL), stated that it has been granted registration for the domestic production of Pyroxasulfone 85 per cent WG and three other key technicals. In its 447th meeting, the Central Insecticides Board & Registration Committee (CIBRC) authorised one of BAL’s fully owned subsidiaries, Seedlings India Pvt Ltd, to manufacture Pyroxasulfone 85 per cent WG domestically by section 9(3) FIM vs. FIT.

“This is a significant advancement for us. In addition to our proud innovation Ronfen, we launched several 9(3) and generic products in FY23, and we have similar intentions for FY24. With this new registration in hand, BAL has become the first and only agrochemical firm in India to produce both AI and formulations of Pyroxasulfone. We already hold the registration for the manufacturing of Pyroxasulfone technical. We will launch this product in October of this year as we have both product registrations. For the same, we have also applied for a special process patent, which we will receive soon. We have already submitted registration applications in other countries since we intend to manufacture this product for both national and international markets,” said Vimal Kumar, MD, Best Agrolife Ltd. 

Pyroxasulfone is a pre-emergence herbicide for wheat, corn and soybean that ensures increased yields while offering outstanding crop safety by eliminating weeds that pose a threat to these crops. It works by preventing plants from synthesising, particularly long-chain fatty acids. It is more effective against broadleaf weeds and requires fewer applications than other commercial herbicides. The primary troublesome weed in wheat, Phalaris minor, is controlled by Pyroxasulfone 85 per cent WG. 

“The market for Pyroxasulfone is already worth over 450 crores, and demand will only increase in the years to come. We are confident in our ability to successfully penetrate the 150 cr Pyroxasulfone market in the first year after introduction, and we want to steadily expand it in the following year. In total, we are planning to achieve 300-350 cr of the Proxysulfone market in the following three years. Pyroxasulfone was previously imported by India from other countries. But now, as part of the Indian government’s ‘Make in India’ drive, it will be locally produced and readily available to farmers. They will benefit greatly from this because they will receive a superior product at a lower cost,” said Vimal Kumar. 
It is worth mentioning that, BAL has recently received the registration for the indigenous manufacturing of the combination product Trifloxystrobin 10 per cent + Difenoconazole 12.5 per cent + Sulphur 3 per cent Sc under section 9 (3) FIM. This combination effectively controls several crop diseases like Sheath blight, Powdery Mildew, Scab, and Alternaria in Rice, Tomato, Grapes, Chilli, Wheat, Mango, and Apple. BAL is all set to launch this product in July with the brand name Tricolor. 

The market for Pyroxasulfone is more than

AgroPolicy, Foodgrains, India, Supply Chain

15 LMT of Wheat to be offloaded in the first phase from central pool stock under Open Market Sale Scheme

In order to manage the overall food security and to prevent hoarding and unscrupulous speculation, the Government of India has decided to impose stock limits on the Wheat applicable to Traders/Wholesaler, Retailers, Big Chain Retailers and Processors for all States and Union Territories. The Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2023 has been issued with immediate effect from 12th June 2023 and will be applicable until 31st March 2024 for all States and Union Territories.

Stock limits will be applied to each entity individually such as Traders/Wholesaler- 3000 MT; Retailer-  10 MT for each of the Retail outlets; Big Chain Retailer- 10 MT for each outlet and 3000 MT at all their depots and Processors- 75 per cent of annual installed capacity. Respective legal entities, as above, have to declare the stocks position and update them regularly on the portal (https://evegoils.nic.in/wsp/login) of the Department of Food and Public Distribution and in case the stocks held by them are higher than the prescribed limit then they have to bring the same to the prescribed stock limits within 30 days of issue of this notification. 

Further, Central Government has also decided to offload the Wheat wherein 15 LMT of Wheat will be offloaded in the first phase from central pool stock under the Open Market Sale Scheme (Domestic) (OMSS (D)) 2023 to flour mills/private traders/bulk buyers/manufacturers of wheat products through e-auction to control retail prices of wheat. Wheat will be sold in lot sizes of 10-100 MT. Registration for this auction is open on the FCI’s e-auction platform.

It has also been decided to offload rice under OMSS in order to moderate the prices. The quantity for the first phase of the e-auction for rice will be decided shortly.

The imposition of stock limits on Wheat along with offloading of Wheat and Rice under OMSS is part of the consistent efforts made by the Government to stabilise the prices of essential commodities. The Department of Food and Public Distribution is closely monitoring the stock position of Wheat and rice to control the prices and ensure easy availability in the country.

15 LMT of Wheat to be offloaded

AgroPolicy, Foodgrains, Supply Chain, Sustainability

The combined Stock position of wheat and rice in the Central Pool stands at over 579 LMT

Wheat procurement during the ongoing Rabi Marketing Season (RMS) 2023-24 has progressed smoothly. The progressive procurement of wheat in the current season till 30 May is 262 Lakh Metric tons (LMT) which has already surpassed last year’s total procurement of 188 LMT by 74 LMT. About 21.27 Lakh farmers have already benefitted from the ongoing wheat procurement operations with a Minimum Support Price (MSP) outflow of about Rs. 47,000 crores. Major contribution in the procurement has come from three procuring states of Punjab, Madhya Pradesh and Haryana with procurement of 121.27 LMT, 70.98 LMT and 63.17 LMT respectively.

The major contributing factors in healthy procurement this year have been the grant of relaxation by the Government of India in quality specifications of wheat affected due to untimely rains; opening of procurement centres at village/ panchayat level; carrying out procurement through Co-operative Societies/ Gram Panchayats/ Arhatias etc. in addition to designated procurement centres for better outreach and permission to engage FPOs for procurement operations.

The rice procurement is also progressing smoothly. A quantity of 385 LMT of rice has been procured till 30 May during the Kharif crop of Kharif Marketing Season (KMS) 2022-23 with another 110 LMT yet to be procured. Further, a quantity of 106 LMT rice has been estimated to be procured during the Rabi crop of KMS 2022-23.

The combined stock position of wheat and rice in the Central Pool is over 579 LMT (Wheat 312 LMT and Rice 267 LMT) which has placed the country in a comfortable position to meet its requirements of food grains.

The combined Stock position of wheat and