New Delhi, Sep 14 (PTI) The government on Thursday further reduced the stock limit on wheat traders, wholesalers and big chain retailers to 2,000 tonnes from 3,000 tonnes with immediate effect to control wheat prices which are showing uptick again after being stable for some time.
On June 12, a stock holding limit of 3,000 tonnes was imposed on wheat traders/wholesalers; 10 tonnes on retailers, 10 tonnes for each outlet of big chain retailers and 3,000 tonnes at all their depots. In the case of processors, 75 per cent of annual installed capacity.
Briefing reporters, Food Secretary Sanjeev Chopra said: “Keeping in view of recent uptick in the prices, we had a review of the stock limits and effective today the stock limit on wheat traders, wholesalers and big chain retailers stand reduced to 2000 tonne.” The stock limits for processors and small retailers remain unchanged. One month time has been given to traders, wholesalers and big chain retailers to bring down their wheat stock levels to 2,000 tonnes, he said.
The decision was taken as the government found an “uptick in wheat prices on the NCDEX by 4 per cent to Rs 2,550 per quintal in the past one month,” he said.
That apart, he said, “Some people are holding more than what they need, and creating artificial scarcity in the country and unnecessarily the prices are going up.” Currently, wheat prices at retail level are ruling stable at Rs 30 per kilogramme on an average. “But we are anticipating that with this uptick in the NCDEX prices, there may be a reflection of these prices in the retail market,” he said The secretary mentioned wheat prices were brought to a stable level after the government took several interventions including ban on export of the grain.
He said there is adequate stock in the country. Wheat stock is about 255 lakh tonnes as on Thursday in government godowns, as against the requirement of 202 lakh tonnes, he added. PTI LUX HVA
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