About FCI

• Food Corporation of India (FCI) was set up in 1965 under the Food Corporations Act.
• The main objectives of FCI are 
  • Procurement of food grains from farmers at Minimum Support Prices (MSP) announced by the Government; 
  • Distribution of food grains to consumers through PDS, particularly the vulnerable sections of society at affordable prices; and 
  • Maintenance of buffer stock of food grains for food security and price stability. 
• It is mandated to serve the interests of producers and consumers alike. 

Why in News?

• More than 1060 bidders participated and 3.85 LMT wheat was sold during the second e-auction organised by the Food Corporation of India.

https://pib.gov.in/PressReleasePage.aspx?PRID=1899720