Govt says it has sufficient wheat stocks to keep price in check
Besides, the government is ready with an action plan to ensure that there is no hoarding by unscrupulous elements to drive up prices.
The Centre on Monday imposed stock limits on wheat to manage the overall food security and prevent hoarding and unscrupulous speculation, applicable until March 31, 2025 for all states/Union territories.
The ban will be applicable to Traders/Wholesaler, Retailers, Big Chain Retailers and Processors for all States and Union Territories, Ministry of Consumer Affairs, Food & Public Distribution said in a statement.
Stock limits will be applicable to each entity individually such as Traders/Wholesaler- 3000 MT; Retailer- 10 MT for each of the Retail outlets; Big Chain Retailer- 10 MT for each outlet and 3000 MT at all their depots and Processors- 70% of Monthly Installed Capacity (MIC) multiplied by remaining months of FY 2024-25.
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The Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2024 has been issued with immediate effect from today.
The ministry also said that the respective legal entities will have to declare the stock position and update them regularly on the portal of the Department of Food and Public Distribution and in case the stock held by them are higher than the prescribed limit then they have to bring the same to the prescribed stock limits within 30 days of issue of this notification.
Last week, a meeting of the Committee of Ministers was held under the chairmanship of Union Minister of Home Affairs and Cooperation to review the prices of essential commodities.
The union government had said that there is sufficient stock of wheat available to undertake market interventions, as and when required.
It was highlighted that approximately 266 LMT of wheat has been procured till June 18 in RMS 2024, against a procurement of 262 LMT in RMS 2023.
After meeting the requirement for PDS and other Welfare Schemes, which is approximately 184 LMT, sufficient stock of wheat is available to undertake market interventions, as and when required.
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