Centre Revises Wheat Stock Limit
As part of its ongoing efforts to moderate wheat prices, the central government has announced revisions to the existing stock limits for various entities. All entities storing wheat are mandated to register on the dedicated wheat stock limit portal and update their stock positions every Friday. Failure to register or exceeding the prescribed stock limits will result in punitive action under the Essential Commodities Act, 1955. Entities exceeding the new limits have 15 days to comply.
Government Imposes Stock Limits on Wheat to Control Prices and Prevent Hoarding
In a bid to ensure food security and curb price hikes, the Government of India has imposed stock limits on wheat across the country. This move comes into effect immediately from June 24, 2024 and will remain in place until March 31, 2025. The new limits apply to traders, wholesalers, retailers, big chain retailers, and processors across all states and union territories.
Revised Wheat Stock Limits for Traders/ Wholesalers, Retailers, Big Chain Retailers and Processors
Entities exceeding the prescribed limits are mandated to bring their stocks within the limits within 30 days of the notification. Central and State Government officials will closely monitor and enforce these stock limits to prevent any artificial scarcity of wheat.
Central Government further regulates Wheat Stock Limits
This amendment aims to regulate and maintain appropriate stock levels of wheat across the country. It is essential for all stakeholders, including traders, retailers, big chain retailers, and processors, to adhere to these revised stock limits. The amended provisions will remain in effect until March 31, 2024.
State Governments to continuously monitor the stock and prices of Tur and Urad
In the meeting, the state governments were asked to continuously monitor the prices and verify the stock positions of stock-holding entities and take strict action on those who violated the stock limits order.
Stock limits on Wheat applicable to Wholesalers/Traders, Retailers, Big Chain Retailers and Processors
The Removal of Licensing Requirements, Stock Limits, and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2023 has been implemented with immediate effect from 12th June, 2023, and will remain in force until 31st March, 2024. This is intended to manage food security and curb hoarding and unscrupulous speculation.
