FCI Wheat Stocks Fall To 16-Year Low

May be closer to buffer of 7.46 MT for April 1

- SANDIP DAS

WHEAT STOCKS IN the central pool fell to a 16-year low of 7.73 million tonne (MT) due to low procurement for the last two years and aggressive sale of grains in the open market by the Food Corporation of India (FCI) this fiscal.

Sources told FE that the stocks are likely to be precariously close to the buffer of 7.46 MT for April 1. The last time wheat stocks were below the current levels was way back in 2008-dropped to 5.8 MT.