Food Corp of India eases norms for warehouses to raise capacity

Details: Category: Industry Overview

Food Corp of India, manages 60 million tonnes of wheat and rice , of which only 17.8 million tonnes are under covered storage. With recent loss of grains from flood and rains, the corporation is set to increase private participation in building warehouses. It is considering to ease up norms and make the projects bankable. They have also guaranteed 7 year rent and approved 12.7 million tonne capacity of warehouse across states. Another 2.5 million tonnes 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.