BUFFER STOCKS AND FOOD SECURITY
Buffer stocks and food security are integral concepts in the management of a nation's food supply, particularly in a country like India, where a large portion of the population is vulnerable to food insecurity. Buffer stocks act as a critical tool in stabilizing food prices and ensuring a steady supply of essential commodities during times of crisis or shortage.
Buffer Stocks: Buffer stocks refer to reserves of essential food grains (primarily wheat and rice in the Indian context) that are maintained by the government to stabilize prices, ensure food security, and address shortages during periods of low production, natural disasters, or other emergencies. These stocks are procured during times of surplus production and released into the market during periods of scarcity to balance supply and demand.
Food Security: Food security is defined as the availability, accessibility, and affordability of sufficient, safe, and nutritious food to meet the dietary needs and preferences of all individuals for an active and healthy life. It encompasses four main pillars: food availability, food access, food utilization, and stability of these factors over time.
1.Origins of Buffer Stocks: The concept of buffer stocks originated as a response to the challenges of fluctuating agricultural production and the need to stabilize food prices. In India, the idea gained prominence post-independence, particularly after the food crises of the 1960s, which led to the Green Revolution. The government recognized the need for a robust mechanism to manage food supply and prices, leading to the establishment of buffer stocks as a part of its agricultural policy.
2.Evolution in India: The evolution of buffer stocks in India is closely linked with the establishment of the Food Corporation of India (FCI) in 1965. The FCI was tasked with procuring, storing, and distributing food grains across the country. The Public Distribution System (PDS) was also strengthened during this period to ensure that buffer stocks could be effectively utilized to meet the needs of the population. Over the decades, the role of buffer stocks has expanded to include not just price stabilization but also ensuring food security during natural disasters, pandemics, and other emergencies.