Is there a fear of wheat prices increasing? Government took this big step to stop wheat inflation – Know

Is there a fear of wheat prices increasing?  Government took this big step to stop wheat inflation – Know

Wheat Stock Limit Reduced: Yesterday, the Central Government has taken such a step which has raised the question whether there are chances of wheat becoming expensive in the country? However, wheat prices in the country have remained stable for some time because the Government of India had banned the export of wheat in May 2022. After this, there is sufficient supply of wheat in the country to meet the domestic demand. On the basis of this, the government also said in January that the ban on export of wheat, rice and sugar will continue. Know here what steps the Central Government has taken regarding wheat-

Central government reduced wheat stock limit to half

To check hoarding and prevent price rise, the Central Government yesterday tightened the norms for maintaining wheat stocks (wheat stock limit) for wholesalers, large retailers and processors. According to the Food Ministry, traders and wholesalers are now allowed to keep wheat stock up to 500 tonnes instead of 1000 tonnes. Big chain retail shopkeepers can keep a total of 500 tonnes of wheat stock instead of five tonnes in each sales center and 1000 tonnes in all their depots.

Stock limit on wheat storage will remain in effect till March 

The Food Ministry said in a statement that processors will be allowed to maintain 60 per cent of their monthly installed capacity instead of 70 per cent in the remaining months till April 2024. To manage food safety and prevent hoarding and speculation, the stock limit on wheat was imposed on June 12, 2023, which will remain in force till March this year.

It is necessary to register on the wheat stock limit portal

The Food Ministry said that all wheat storage institutions will have to register on the Wheat Stock Limit Portal and update the stock position every Friday. If the stock held by these institutions is more than the prescribed limit, then they will have to bring it within the prescribed stock limit within 30 days of the issue of notification information. The ministry also said that officials of both the central and state governments will closely monitor these stock limits. This will be seen and it will be decided that no artificial demand for wheat should be allowed to arise in the country.

Read this also

Stock Market Update: Recovery in stock market after flat opening, BSE Sensex crosses 71600 level

Get more latest business news updates

Leave a Comment

Scroll to Top