Indian govt imposes stock limits on wheat till March 2025-Xinhua

Indian govt imposes stock limits on wheat till March 2025

Source: Xinhua

Editor: huaxia

2024-06-24 22:20:00

NEW DELHI, June 24 (Xinhua) -- Indian government Monday imposed stock limits on the quantity of wheat that retailers and processors can hold.

The step has been taken to keep prices in check and prevent hoarding of wheat.

"In order to manage the overall food security and to prevent hoarding and unscrupulous speculation, the Government of India has decided to impose stock limits on wheat applicable to traders/wholesaler, retailers, big chain retailers and processors for all states," the federal ministry of consumer affairs, food and public distribution in a statement said.

According to the ministry, the limit is 3,000 metric ton (MT) for wholesalers, 10 MT for retailers, 10 MT per outlet for big chain retailers and 3,000 MT at all their depots.

Officials said retailers and other entities will have to report prices regularly on the portal set up by the Department of Food and Public Distribution.

"Respective legal entities will have to declare the stock position and update them regularly on the portal of the Department of Food and Public Distribution and in case the stocks held by them are higher than the prescribed limit, then they have to bring the same to the prescribed stock limits within 30 days of issue of this notification," the ministry further said.

Secretary of the Department of Food and Public Distribution Sanjeev Chopra told media the government will review the stock limits based on the requirements to ensure that the price of wheat remains stable.

He rejected reports about a shortage of wheat in the country.

Last week the government said sufficient stock of wheat remains available in the country to undertake market interventions, as and when required.