The government has set stockholding restrictions on wheat with immediate effect through March 2024. The government also plans to sell 15 lakh tonnes of wheat to traders and large customers in the first phase of the Open Market Sale Scheme (OMSS).
In an effort to slow the rate of increase in the price of the essential commodity, the government on Monday set stockholding restrictions on wheat with immediate effect through March 2024. The government has taken the step for the first time in 15 years. Additionally, the government planned to sell 15 lakh tonnes of wheat to traders and large customers in the first phase of the Open Market Sale Scheme (OMSS).
“Wheat prices have increased during the past month. At the mandi level, there has been a rise of about 8%. Although wholesale and retail prices haven’t increased all that much, the government has limited the amount of wheat that may be stored. Sanjeev Chopra, the secretary of food, told reporters.
The traders have been subject to a stock limit.
Up to March 31, 2024, the stock restriction has been imposed on traders, wholesalers, retailers, huge chain shops, and processors. The Secretary stated that there are no plans to change the policy on lowering the import tariff on wheat because the nation has sufficient supply and even the export ban on wheat would remain in place.
The nation has an adequate supply of wheat. The stock is held by dealers and farmers as well as by dishonest individuals. We do not consider imports because there is sufficient stock in the nation, the man stated.
In addition to wheat, the government has chosen to sell rice through the OMSS; the quantity would be decided later, he continued. The source said that there is no plan to permit further sugar exports.
