Ensuring food security for its population remains one of the foremost priorities for any nation. India has also made considerable progress in foodgrain production and access to food. The country’s food-based safety nets provide foodgrains to around 800 million people. This makes the management of food procurement, storage and distribution a foremost policy concern to ensure food security.

In this context, stable agricultural production also assumes importance. However, agriculture in India remains significantly dependent on the monsoon. Its vulnerability to changes in the pattern of rainfall and climatic conditions affects crop yields, disrupts supplies, and exerts pressure on food prices. The recent El Niño is a case in point.

Such uncertainties highlight the need for a robust food security system that can withstand the pressure arising from production shortfalls and supply disruptions.…