India’s Wheat and Rice Market Stability: A Steady Harvest

Food Secretary Sanjeev Chopra confirms sufficient wheat supplies, negating the need for government stock sales under OMSS. With stable prices, the government plans to sell 50 lakh tonnes of rice, reducing broken rice percentage. India has exported 8 lakh tonnes of sugar in 2024-25, with future quotas undecided.

Food Secretary Sanjeev Chopra assured on Thursday that India currently has adequate wheat stocks, eliminating the necessity to release additional supplies under the Open Market Sale Scheme (OMSS). This government initiative aims to stabilize both supply and price levels by selling surplus wheat from the Food Corporation of India to the market.

Chopra explained that current market supplies are robust, thanks to government and private procurement, and prices remain stable. Consequently, the OMSS, intended for price stabilization, is not necessary at this time. He provided these insights at an Indian Vegetable Oil Producers' Association event.

Regarding rice, Chopra stated that the government plans to sell 50 lakh tonnes, modifying the broken rice specification from 25% to 10%. The plan involves auctioning broken rice directly from mills to minimize logistics costs. Meanwhile, India has exported 8 lakh tonnes of sugar this season, with future sugar export quotas yet to be decided.

(With inputs from agencies.)