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 meeting came a day after the Centre imposed stock limits on wheat applicable to Wholesalers/Traders, Retailers, Big Chain Retailers and Processors.
Italian Prime Minister Giorgia Meloni has visited the flood-ravaged region of Emilia-Romagna as details from what is being called the worst floods to hit the country in a century began to be calculated.
A meeting of the Committee of Ministers under the chairmanship of Home Minister Amit Shah was held on 25 January to review the prices of essential commodities.
The reserve price under the Open Market Sale Scheme (Domestic) has been fixed at Rs 2150/Qtl (Pan India) for wheat (FAQ) and Rs 2,125 Qtl (Pan India) for wheat (URS) of all crops including RMS 2023-24 for sale of wheat to private parties.
The delay in transportation could well result in a huge loss for exporters; it could run into crores of rupees as the grain is bound to start rotting as the monsoon sets in this month.
