FCI: Food Corporation of India
FCI: The Food Corporation of India was established under the Food Corporation’s Act 1964 , in order to create following objectives of the Food Policy:
- Farmers’ interests are protected by effective price support activities.
- Foodgrain distribution for the public distribution system across the country.
- Maintaining adequate operational and buffer food grain reserves to maintain national food security
- FCI has played a key role in India’s success in changing a crisis-oriented food security system into a stable security system since its foundation.
Vision of FCI
Certifying Food Security for citizens of the country.
Mission of FCI
- Food grain acquisition, storage, and distribution at a minimum support price (MSP).
- Ensure food grain and sugar availability through appropriate policy instruments, particularly the preservation of food grain buffer stockpiles.
- Under the PDS, food grains are made accessible at reasonable costs, especially to the poor and vulnerable sections of society.
Other Facts:
- FCI is thought to be Asia’s largest supply chain management company. Wheat and rice are the organization’s main products. It buys roughly 15-20 percent of India’s entire wheat crop and 12% to 15 % of India’s total rice production every year.
- Following the purchase, it distributes the food grains to various state stock depots, allowing ration card members to acquire wheat and rice at a low cost.
- The Union government is supposed to compensate FCI if it experiences a loss. FCI has effectively handled a variety of food grain scarcity and abundant scenarios since its beginnings.
- It was essential in changing India from a food-deficit country to one that is food self-sufficient.
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