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Centre Imposes Stock Limit On Wheat Till March 2024


Centre Imposes Stock Limit On Wheat Till March 2024

In an effort to prevent stockpiling and control the essential commodity’s growing costs, the government on Monday placed stock limitations on wheat for the first time in 15 years. The restrictions are effective immediately and last through March 2024.

Additionally, the government made the decision to sell 15 lakh tonnes of wheat to traders and large customers from the central pool starting at month’s end through the Open Market Sale Scheme (OMSS).

 In addition to wheat, rice will be distributed to bulk customers through the OMSS; the quantity will be determined in due order.

The administration made it plain that it has no plans to change the country’s import restrictions on wheat because the supply is sufficient. It also stated that the export prohibition on wheat would remain in effect and that sugar exports would not be allowed moving forward.

To keep prices under control, the stock limit on wheat was put in place until March 2024, shortly before the start of the general elections. The stock cap was last enforced in 2008.

In a press conference, Food Secretary Sanjeev Chopra explained that the wheat stock limit was put in place because “unscrupulous elements are holding the stock and creating artificial scarcity,” which has caused mandi prices to increase by roughly 8 per cent over the past month.

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