- News>
- Economy
New grains` exim policy held back, delinked from buffer norms
New Delhi, Dec 09: Faced with a grim stock position, government has put on hold a new foodgrains export and import policy (FEIP) and delinked it from the proposed new buffer norms for the country.
New Delhi, Dec 09: Faced with a grim stock position,
government has put on hold a new foodgrains export and import
policy (FEIP) and delinked it from the proposed new buffer
norms for the country.
Total foodgrain stocks as on November one have fallen to
220.72 lakh tonnes against last year's 535.68 lakh tonnes, a
massive decline of 58.79 per cent.
"The FEIP has to be linked to the stocks available, since the position is grim, we have put the entire policy on hold. While the rice stocks have depleted drastically, new wheat crop will only arrive in April," official sources told reporters.
Even though paddy procurement is on, the inflow has not been as projected earlier due to the bad procurement scenario in Andhra Pradesh, they said.
As a result it has been decided to hold up announcing the new policy which is not intended to be a "mere vision document" but deals with the procedures and quantums for actual exports, they said.
The new buffer stocks norms for maintaining a minimum quantity of wheat and rice in the central pool are now being taken up separately for recommendation to the cabinet, they added.
Earlier both the buffer norms for the 10th five year plan period and the new grains exim policy were being worked upon as part of a single cabinet note, sources said.
They said given the current grains availability and having just weathered a devastating drought, the new buffer requirements will not be substantially lower than those for the ninth five year plan.
Bureau Report
"The FEIP has to be linked to the stocks available, since the position is grim, we have put the entire policy on hold. While the rice stocks have depleted drastically, new wheat crop will only arrive in April," official sources told reporters.
Even though paddy procurement is on, the inflow has not been as projected earlier due to the bad procurement scenario in Andhra Pradesh, they said.
As a result it has been decided to hold up announcing the new policy which is not intended to be a "mere vision document" but deals with the procedures and quantums for actual exports, they said.
The new buffer stocks norms for maintaining a minimum quantity of wheat and rice in the central pool are now being taken up separately for recommendation to the cabinet, they added.
Earlier both the buffer norms for the 10th five year plan period and the new grains exim policy were being worked upon as part of a single cabinet note, sources said.
They said given the current grains availability and having just weathered a devastating drought, the new buffer requirements will not be substantially lower than those for the ninth five year plan.
Bureau Report