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regular-article-logo Friday, 19 July 2024

Centre imposes stockholding limit on wheat to check hoarding, ensure price stability

We want prices of wheat to be stable,says Union Food Secretary Sanjeev Chopra

PTI New Delhi Published 24.06.24, 02:34 PM
Representational image.

Representational image. File picture.

Centre has imposed a stockholding limit on wheat for retailers, wholesalers, processors and big-chain retailers from Monday, to check the hoarding of the foodgrain and to ensure price stability, a senior official said on Monday.

Single retailers, big-chain retailers, processors and wholesalers will disclose wheat stocks every Friday, said Union Food Secretary Sanjeev Chopra in a press briefing here.

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Chopra stressed that "I want to dispel the shortage of wheat in the country." He also noted that there is a ban on wheat exports as of now and there is no proposal to review a ban on export of sugar.

He stated, "We want prices of wheat to be stable." Chopra further informed that the stock limit for wholesalers will be 3,000 tonnes, while it would be 70 per cent of the processing capacity for processors.

For big chain retailers it would be 10 tonnes per outlet with an overall limit for 3,000 tonnes and for single retailers it would be 10 tonnes, he informed.

Chopra explained that the stock limit has been imposed in view of recent media reports that the prices of essential commodities are increasing including wheat.

He pointed out that the stock limit has been imposed to reduce hoarding and noted that there are many tools (to keep a tab on retail prices) and stock limit is one of such tools.

He also informed that the opening stock of wheat was 82 lakh metric tonnes (LMT) on April 1, 2023 while it was 75 LMT on April 1, 2024.

He further informed that 266 LMT was procured last year, while this year the government has procured 262 LMT and procurement is still on.

Therefore the shortage of wheat (in the opening stock) is just 3 LMT.

Except for the headline, this story has not been edited by The Telegraph Online staff and has been published from a syndicated feed.

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