Wheat storage limits have been set at 2000 tonnes for dealers and wholesalers to manage pricing
The government has lowered the wheat storage limit for dealers and wholesalers to 2,000 tonnes, attributing the increase in wheat prices on "vested interests claiming artificial scarcity."
Read more : ICRIER Research looked at the effects of export restrictions and stocking limits to combat food inflation
Government Portal to upload stock data
On the government portal, all wheat stocking firms have already uploaded their stock data. Chopra noted that 30 LT of surplus wheat is available in addition to the buffer stocks, with 57 LT of wheat already being used for market intervention. He claimed that India's current wheat supply, which stands at 255 LT (lakh tonnes), is significantly higher than the country's requirement of 202 LT.
The Secretary rejected Indian Sugar Mills Association's (ISMA) assertion that sugar stocks had sharply decreased, stating that the present 85 LT sugar stocks were adequate for 3.5 months of use.
He stated that sugar prices are being watched and that the government is still getting feedback from sugar mills and dealers about the stocks they have. He linked the increase in the price of sugar and rice to rumours of crop failure and shortage.
By citing information from the Ministry of Agriculture, he dispelled suspicions of a reduced rice harvest this season and guaranteed that the government does not anticipate any major increases in the price of any food commodities during the coming holiday season.
The present stock of rice is 230 LT, and the government is investigating the reasons for the reduced offtake under OMSS. Under the Essential Commodities Act, Central and state police are waging intensive enforcement campaigns against hoarders.
The Secretary said that prices haven't increased since export restrictions were put in place, despite a spike in demand for non-basmati rice. He emphasised that the present stocks of 37 LT for edible oil are significantly higher than the 23 LT from a year ago.
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