Government Monitors Wheat Prices To Prevent Hoarding Of Stocks

The Department of Food and Public Distribution is closely monitoring wheat prices to ensure market stability and prevent hoarding. As of January 1, 2024, wheat stocks were well above the prescribed buffer norm. Currently, there are no plans to alter import duties on wheat.

Food Corporation of India Boosts Market Supply of Wheat & Rice

The government, in its latest initiative, has allocated 101.5 LMT (Lakh Metric Tonnes) of wheat for offloading under the Open Market Sales Scheme (Domestic). The reserve price for both FAQ wheat and URS wheat has been set at Rs. 2150/Qtl and Rs. 2125/Qtl, respectively. Since the commencement of the offloading on June 28, 2023, a total of 25 e-auctions have been conducted, resulting in the sale of 48.12 LMT of wheat in the open market.

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.