As the prices of wheat have increased by 8 to 10 per cent in the last month, the Centre on Monday imposed a stock limit up to March 31, 2024. The last stock limit of wheat was implemented in 2008.
The stock limit on wheat for all States and Union Territories has been fixed for Traders/Wholesaler at 3,000 Metric Tonnes (MT); retailers at 10 MT for each retail outlet, and big chain retailers at 10 MT for each outlet and 3,000 MT at all their depots. An order of this effect was issued by the Department of Food and Public Distribution (DFPD). The last stock limit of wheat was implemented in 2008. The Centre will also release around 1.5 million MT of wheat in the open market from its stock to further cool down prices.
As per the order, the stock limit has been imposed on traders, wholesalers, retailers, big chain retailers and processors till March 31, 2024. The stock limit on wheat for processors has been fixed at 75 per cent of annual installed capacity or quantity equivalent to monthly installed capacity multiplied by remaining months of 2023-24, whichever is less.
“There has been an uptick in wheat prices in the past month. There has been an increase of close to 8 per cent at the mandi level. Though wholesale and retail prices have not gone up that much, the Government has imposed stock limit on wheat...”, Food Secretary Sanjeev Chopra said. He further said there were no plans to tweak wheat import policy as ample stock is available in the country. “Farmers and traders are holding the stock and there are also unscrupulous elements holding the stock. We are not looking at import as enough stock available in the country,” he added.
On June 2 this year, the Government had announced a similar move to control prices of tur and urad dals. The retail prices of the two pulses have shot up due to a projected fall in production during the current financial year.
Besides wheat, the Government has decided to offload rice under the OMSS and the quantity would be finalised later, he added. The official also said that there is no proposal to allow further export of sugar.