Rice procured at 266 lakh tons: 6 pc above last year

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New Delhi, Aug 14 (UNI) The rice procurement in current Kharif marketing season (KMS) of 2007-08 has touched 265.96 lakh tons as against the overall procurement of 251.07 lakh tons during last in KMS representing an increase of 6 per cent with adequate availability of foodgrains, edible oils and sugar to check price rise in these commodities.

The stock of wheat as on April first next year is expected to be higher at 78.60 lakh tons compared to the buffer norms of 40.00 lakh tons. Similarly it is estimated that the rice stock will be 62.53 lakh tons as on October first this year (2008) against the buffer norm of 52.00 lakh tons, an official announcement said here today.

Additional release of 5 lakh MT sugar (2 lakh MT of sugar for August, 2008 and additional 3 lakh MT for September 2008) besides estimated 16 lakh MT of sugar availability (through regular 9 lakh MT of monthly sugar releases and monthly pro-rata quantity of 6.5 lakh MT of dismantled buffer sugar stock) effected to control sugar prices, which would be evident in 2-3 weeks from now.

Under the Scheme for Distribution of Subsidized Edible Oils, as much as 10 lakh tons of subsidised edible oils to be distributed during 2008-2009 through State Governments. Till August 11,2008, 1.60 lakh tons of edible oil has already landed in the country and 50,000 MTs have so far been distributed to various States by Central PSUs. International prices of palm oil have come down by 260 dollars a ton during the period since April 2008.

Due to proactive measures of the Government, the wholesale prices of soyabean oil, mustard oil and groundnut oil have declined by 12.10 per cent, 6.47 per cent , and 4.83 per cent respectively since last month from July 13.

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