India: FCI Likely to Sell Rice In Open Market

India's Food Corporation of India (FCI) to likely to sell wheat and rice under the open market sale scheme (OMSS) in order to make the commodities available in the domestic market at the prices lower than in the market but higher than those quoted at public distribution outlets.

The Indian government has the target to achieve production of 129 million MT of rice by 2011-12 with the growth rate of 3.7 % along with other food grain.

India’s food grain production was estimated at 230.67 million MT in 2007-08.