Five-year-high grain stocks offer India an El Niño buffer
New Delhi, July 12 -- As the threat of an El Niño clouds the outlook for this year's kharif crop, the government is entering the season with its strongest foodgrain buffer in five years. Latest available data shows the central wheat and rice stocks were at 81.75 million tonnes (mt) as of 1 May, nearly four times the prescribed buffer norm, providing a cushion against any supply disruption and food price pressures.
The stock update for June is likely to be detailed later this month.
According to the consumer affairs, food and public distribution ministry data reviewed by Mint, the central pool held 42.8 mt wheat and 38.95 mt rice as on 1 May, against the combined buffer norm of about 21 mt.
The stock build-up has been driven by a s...
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