Wheat stock limit increased to 2000 tonnes

Wheat stock limit: In view of rising prices, the government has announced further reduction in the wheat stock limit. According to a government notification, the stock limit for wheat traders, wholesalers and large chain retailers has been reduced from 3000 tonnes to 2000 tonnes. The new stock limit has come into effect with immediate effect. Food Secretary Sanjeev Chopra said that this decision has been taken in view of the increase in the price of wheat before the festivals.

The stock limit imposed earlier by the Government has been reviewed and it has been decided to reduce it as per requirement. Earlier in June of the current year, the government had imposed a limit of 3000 tonnes. In the last one month, the price of wheat on NCDEX has increased by four percent to Rs 2,550 per quintal, the government has observed.

The Food Secretary told reporters that there is sufficient stock of wheat in the country but some hoarders are artificially increasing its prices. Large chain retailers may keep 10 tonnes of stock in one outlet, but 2000 tonnes of stock across all the outlets combined. Stock limit not imposed for others. Those on whom stock limit has been imposed will have to give stock information every Friday. Those who have a stock of more than 2000 tonnes will have to bring the wheat stock within the prescribed limit within one month from the date of issue of the notification. In view of the rising price of wheat, the government has banned the export of wheat since May last year. India is supplying wheat to some countries only at government to government level.