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    IndiaCentre imposes wheat stock limits to ensure food security, price stability until...

    Centre imposes wheat stock limits to ensure food security, price stability until March 2025

    Date:

    New Delhi, Jun 24: To reinforce food security and stabilise prices, the Union government on Monday announced the imposition of stock limits on wheat for traders, retailers, big chain retailers, and processors across all states and Union Territories.

    The decision, aimed at curbing hoarding and speculative practices, underscores the government's proactive measures in managing essential food stocks.

    Union Food Secretary Sanjeev Chopra said, “The move is designed to prevent hoarding and unscrupulous speculation. We aim to ensure sufficient stock availability and stable prices in the domestic market.”

    The government has issued an order removing licensing requirements, stock limits, and movement restrictions on specified foodstuffs, effective immediately until March 31, 2025.

    Under the new rules, retail outlets and individual stores of big chain retailers are allowed to stock up to 10 tonnes of wheat, an official statement said.

    Traders, wholesalers, and large depots of big chain retailers face a cap of 3,000 tonnes each.

    For processors, the limit is set at 70 per cent of their monthly installed capacity (MIC) multiplied by the remaining months of the 2024-25 fiscal.

    Despite the government's robust wheat procurement of 266 lakh MT this Rabi marketing season, surpassing the required 188 lakh MT, there are no plans to lift the export bans on wheat, sugar, and non-basmati rice.

    “As of now, there are no proposals to remove the export bans on these key items. The bans will remain in effect until further notice to prioritize domestic availability and price stability,” said Chopra.

    Addressing the issue of wheat procurement, Chopra acknowledged the record production of 112 million tonnes this year. However, he pointed out, “Private traders have been active, purchasing wheat above the Minimum Support Price (MSP), benefiting farmers. While this is a positive development, we want to assure that we have ample wheat stock and no need to revise the wheat import duty. Additionally, wheat consumption has increased.”

    The government faced challenges in procuring the required wheat stock from Madhya Pradesh due to poor production caused by adverse conditions.

    Chopra also dismissed media reports suggesting a wheat shortage, affirming that the country has sufficient wheat supplies. “There is no shortage of wheat in the country. The stock limits are part of our strategy to maintain stable prices and ensure consumer interests,” he reiterated.

    The Centre's measures reflect its commitment to maintaining food security and price stability, ensuring that consumers are prioritised in its policies and actions.

    Northlines
    Northlines
    The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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