Thats a old school method of packing 5 gallon buckets.
Better way is to use a mylar bag inside the bucket, fill bucket with product and a 1000cc oxygen absorber in bottom and one at top. Press out as much air as you can then seal bag, then put lid on bucket.
The oxygen absorbers will remove all oxygen leaving a mostly nitrogen atmosphere where no bug will live or hatch. Plus side to this method is your food will not oxidize. Ever see really old ice turn yellowish? Thats food oxidation.
Do a youtube search for "long term food storage". There are a couple really good videos there.