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FCI relaxes norms for warehouses to raise capacity

28 July 2010: Food Corporation of India (FCI), manages 60 million tonne of wheat and rice, of which only 17.8 million tonne are under covered storage.

With recent loss of grains from flood and rains, FCI is set to increase private participation in building warehouses. It is considering easing up norms and making the projects bankable. They have also guaranteed seven year rent and approved 12.7 million tonne capacity of warehouse across states. Another 2.5 million tonne of capacity are also likely to be approved in states of Orissa and Chhattisgarh. It has also suggested to government on sale of coarse grains through online platforms like spot exchanges.

Source: Industryfocus