The food mountain: security or a liability?
Exporting one’s way out of the surplus is a losing proposition as global prices have fallen rapidly in the past few weeks
India held 77.5 million tonnes (mt) of food stocks in its central pool on 1 May. These stocks had reached a record high of 82.4 mt on 1 June 2012, and that level could be crossed if wheat procurement this May is similar to the procurement a year ago. So, food stocks could very well peak at 88-90 mt this June.