Centre lifts MEP on onions, tightens stock holding limit on wheat
In a significant move, the Central government lifted the minimum export price (MEP) of $550 per tonne on onions but tightened the stock holding limit on wheat.
In a significant move, the Central government lifted the minimum export price (MEP) of $550 per tonne on onions but tightened the stock holding limit on wheat.
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.
Besides, the government is ready with an action plan to ensure that there is no hoarding by unscrupulous elements to drive up prices.
Procurement of Wheat during RMS (Rabi Marketing Season) 2024-25 is going on smoothly in major procuring states across the country.
In response to consecutive years of diminished wheat production due to heat waves, India is implementing a proactive measure to prevent hoarding and price spikes.
The stock position will have to be updated every Friday until further orders, the directive said.
The Centre organised a meeting of state food secretaries to discuss the procurement arrangements for Rabi and Kharif Crops for season 2024-25 and 2023-24 respectively yesterday.
As the country faces the spectre of above-normal temperatures in its key wheat-producing regions, the nation’s agricultural landscape is poised at a critical juncture.
This step has been taken to increase the availability of wheat in the open market and to further stabilize the prices of wheat.
Briefing newspersons, Information and Broadcasting Minister Anurag Thakur said the MSP has been revised on the basis of the recommendations of the Commission for Agricultural Costs and Prices (CACP).
