NEWS: India has food grain stock three times the existing buffer norms

CONTEXT

Indiaà Currently has around 222 Lakh Metric Tonnes (LMT) of wheat and approximately 380 LMT of rice= total food stock to about 602 LMT.

India’s Foodgrain Production

• Agricultural exportsà rose from USD 34.5 billion (FY20) to USD 51.1 billion (FY25)
• Processed food share increasing to 20.4%, signalling value-added growth.
• Horticulture production reached 362.08 million tonnes.
• Indiaà Ranks among the top producers globally, being largest producer of pulses (25.68 MT) and millets, 2nd largest producer of rice, wheat and fruits and vegetables.
• Leadership in High-Value Crops with 1st in spices
  • Coconut production and 2nd in sugarcane, cotton, and tea production.

Buffer Stock

• Quantity of foodgrains procured, stored, and maintained by the government to meet emergency requirements, stabilize prices, and ensure supply through welfare schemes.
• These normsà Fixed by the Cabinet Committee on Economic Affairs (CCEA) on a quarterly basis.

Purpose of Buffer Stock

• Ensures availability of food during droughts, floods, or crop failure.
• Prevents sharp rise or fall in food prices.
• Supplies subsidised foodgrains to the poor.
• Acts as a cushion during crises.