As a part of continued efforts to moderate prices of wheat, the Central government on Friday decided to revise the Wheat Stock limit with respect to traders, wholesalers, retailers, big chain retailers and processors.
The step is significant towards preventing the hoarding and unscrupulous speculation of wheat.
The Ministry of Consumer Affairs, Food & Public Distribution in a statement said the stock limit has been reduced to 1,000 MT from the existing 2,000 MT for traders/wholesalers.
For Retailers, it has been reduced to 5 MT for each retail outlet from earlier 10 MT and for Big Chain Retailers, it has been reduced to 5 MT for each outlet and 1000 MT at all their depots. Earlier it was 10 MT for each outlet and 2000 MT at all their depots.
For processors, the wheat limit has been revised to 70% of monthly installed capacity multiplied by remaining months of 2023-24 from the earlier 75% of annual installed capacity or quantity equivalent to monthly installed capacity multiplied by remaining months of 2023-24, whichever is less.
All wheat stocking entities are required to register on the wheat stock limit portal (https://evegoils.nic.in/wsp/login) and update the stock position on every Friday. Any entity which is found to have not registered on the portal or violates the stock limits will be subject to suitable punitive action under Section 6 & 7 of Essential Commodities Act,1955, the ministry has said in the statement.
In case the stocks held by the entities are higher than the prescribed limit, they shall have to bring the same to the prescribed stock limits within 30 days of issue of the notification.
It further highlighted government’s steps to control the price rise stating that a quantity of 101.5 LMT wheat at a subsidised price of Rs 2150 per quintal has been allocated for calibrated release into the domestic open market by the FCI, through weekly e-auctions.
Additional 25 LMT can be offloaded under OMSS during Jan-Mar 2024, depending on requirement. So far, 44.65 LMT has been offloaded by FCI to processors through weekly e-auctions, and this has increased availability of wheat into the open market at affordable prices, benefitting general consumers across the Country.
In a further step to increase supplies in the open market, it has been decided to increase the weekly quantity being offered through e-auction by FCI, from 3 LMT to 4 LMT with immediate effect. This will further enhance wheat availability in the open market, the Ministry of Consumer Affairs said.