New Delhi, April 1 (PTI): Wheat stocks have more than doubled at over 50 lakh tonnes on April 1 against 20 lakh tonnes during the same period last year.

The buffer stock position is 10 lakh tonnes more than the stipulated 40 lakh tonnes, putting the government in a comfortable position just when the procurement season has begun.

“Wheat stock with us is a little over 50 lakh tonnes as on date,” Food Corporation of India (FCI) chairman and managing director Alok Sinha said. Lower procurement of 92.26 lakh tonnes by FCI last year, coupled with low buffer stock at the beginning of last fiscal, had necessitated wheat import of 55 lakh tonnes.

Sinha was hopeful of meeting the procurement target of 151 lakh tonnes, taking the total wheat availability to over 200 lakh tonnes.

Commenting on reports about private traders currently buying wheat at a higher rate than the support price of Rs 850 per quintal, he said it was not true.

“In fact, only 49,000 tonnes of wheat was lifted when FCI last month wanted to sell four lakh tonnes at Rs 986 per quintal in the open market,” he said. Private traders would not go for huge purchases this season, he added.