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Rice News - Rice Stock in central Pool As on January 1, 2021
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Rice Stock in central Pool As on January 1, 2021

On 1 January, FCI had a stock of 530 lakh tonnes of grain, while the buffer norm required 214 lakh tonnes. Stock of 187 lakh tonnes of milled rice available in the central pool on 1 January while buffer norms of 76 lakh tonnes. To reduce the stock, the government approved the purchase of rice for ethanol but distillers retreated due to the current prices. It was believed that about 100 lakh tonnes of rice stock would be reduced from the central pool. The ethanol manufacturers were given a purchase price of Rs 2000 per quintal by the centre. The cost price of rice purchased in 2020-21 has been 2727 rupees, which FCI wanted to sell on 2000.  FCI is not willing to sell below 2000 price but this price seems to be high to distiller.