# Foodgrain stock in FCI kept safe ahead of monsoon: Paswan

> India's food minister said FCI foodgrain reserves are about twice the required level of 41.1 million tonnes as of June 1. The government has procured over 76 million tonnes of rice and wheat this year. FCI plans to sell 10 million tonnes of wheat to bulk consumers this fiscal year, over 40% more than last year.

- Date: 2019-06-07 · published 2019-06-07T12:00:00.000Z
- Category: market · region India · magnitude medium
- Page: https://feedsoft.ai/events/58561-foodgrain-stock-in-fci-kept-safe-ahead-of-monsoon-paswan
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

Large Indian state stocks and planned wheat sales add supply to world markets and cap upside in wheat and rice prices. The surplus is a bearish factor for international grain buyers.

## Read by commodity

- RICE: bearish ▼
- WHEAT: bearish ▼

## Sources

- business-standard.com: https://www.business-standard.com/article/pti-stories/foodgrain-stock-in-fci-kept-safe-ahead-of-monsoon-paswan-119060701092_1.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.