NEW DELHI (Commodity Online): In order to ease the burden of enhancing food grains stocks and facilitating space for new crops, India is planning to clear off buffer stocks by selling around 3 million metric tons to states.
Food and Agriculture Minister Sharad Pawar said reporters that the Ministry would take a decision on the proposal of selling food grains in buffer stock after the Ministerial panel discussion.
Country's warehouses bulged with food grains more than 57.85 million tons at the end of June, which is double to requirement for state-run welfare programs.
India had allocated 4.2 million tons of wheat to be sold to state governments and private millers from federal stocks between October 2009 and September 2010. So far only 1.7 million tons have been bought.