Other contracts would be introduced based on the experience gained from the initial launch, Managing Director and Chief Executive Anil Mishra said.
The FCI has called for a meeting of its officials in New Delhi on February 17, to chalk out means to support procurement in backward states.
Without any government incentive, Indian sugar is uncompetitive in world markets well supplied by low-cost producers Brazil and Thailand.
While no agency, including the Indian weather office or Skymet could forecast rainfall accurately in previous years, they feel that this year’s rainfall would be normal.
A high-level panel has recommended to boost operational efficiency, a suggestion that could give respite to over 1,500 employees.
The panel has made recommendations such as direct cash transfer for fertilizers and grains that will help eliminate huge leakage of subsidy.
Food minister Ram Vilas Paswan has called a meeting on February 11 to review the recommendations of a highlevel committee on restructuring Food Corporation of India.
Food minister Ram Vilas Paswan has called a meeting on February 11 to review the suggestions to restructure the organisation.
How the market forces unfold globally and domestically during April-June would decide future possibilities of shipments, companies and traders said.
The minister had cleared the increase in subsidy for the export of up to 1.4 mn tonnes of sugar. The proposal has to be approved by the Cabinet.
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