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Informist, Wednesday, Dec. 11, 2024

 

--Govt cuts stock limit on wheat for wholesalers to 1,000 tn from 2,000 tn 

--Govt: Stock limit on wheat applicable till Mar 31 

--Govt: Cut stock limit on wheat to moderate prices 

--Govt cuts stock limit on wheat for retailers to 5 tn from 10 tn 

--Govt cuts wheat stock cap for big chain retailers to 5 tn/outlet vs 10 tn 

 

NEW DELHI – The government has further reduced the quantity of wheat that trade entities can stock, the consumer affairs ministry said in a release on Wednesday. The revised stock limits are intended at preventing hoarding and moderating the prices, and will be applicable till Mar. 31, it added.

 

As per the revised stock holding norms, a wheat trader or wholesaler cannot stock more than 1,000 tonnes. Previously, they could hold 2,000 tonnes and 3,000 tonnes, as announced in September and June, respectively. 

 

For retailers, wheat stock limit is reduced to 5 tonnes per retail outlet from 10 tonnes earlier. Big chain retailers can hold only 5 tonnes in each outlet, and in depots stock 5 tonnes multiplied by the total number of outlets, the release said. Previously, big chain retailers could stock 10 tonnes per outlet. 

 

For processors, the stock limit is reduced from 60% to 50% of the monthly installed capacity multiplied by the remaining months in the current financial year ending March, the release said. 

 

The government is keeping a close watch on the price of wheat and steps have been taken to ensure price stability for consumers. The total production of wheat during the rabi season was 113.2 million tonnes and there is ample availability of wheat in the country, the release said.

 

All wheat stocking entities have been asked to register on the wheat stock limit portal and update the stock position every Friday. "Any entity which is found to have not registered on the portal or violates the stock limits will be subject to suitable punitive action under Section 6 and 7 of the Essential Commodities Act," the release said. 

 

Those holding higher stocks are given 15 days to bring down stocks to the prescribed norms. On Wednesday, all-India wholesale wheat prices were INR 2,928.4 per 100 kg, up 6.3% on year and 2.0% from the previous month, department of consumer affairs data showed. Wheat prices have increased amid tight supply and firm demand, traders said. 

 

The following is the wheat stock limit announced on Wednesday compared with the limit issued on Sept. 9: 

 

Entity	Existing wheat stock limit	Revised wheat stock limit
Trader/Wholesaler	2,000 tonnes	1,000 tonnes
Retailer	10 tonnes	5 tonnes
Big chain retailer	10 tonnes for each outlet and 10 multiplied by total outlets	5 tonnes for each outlet and 5 multiplied by total outlets
Processor	60% of monthly installed capacity multiplied by remaining months of FY25	50% of monthly installed capacity multiplied by remaining months of FY25

 

End

 

Reported by Afra Abubacker

Edited by Akul Nishant Akhoury

 

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