Wheat prices: Govt to step in, including imposing of stock limit if situation turns alarming

Prabhudatta Mishra | Updated on: May 12, 2022

The all India average retail price of wheat was ₹29.70 per kg as of May 12

The government is believed to have chalked out some plans, including imposing the stock limit on wheat if the price situation turns “alarming”, sources said. According to the sources, Union food secretary Sudhanshu Pandey conveyed this to the flour millers on Thursday in a meeting.

According to the food ministry, which is closely monitoring wheat prices, any step to control the further rise in the retail rates will be taken once wheat moves up 10 per cent from the current level, the sources said. As arrivals of wheat are substantially down this year, the government has recently reduced the official procurement target to 19.5 million tonnes (mt) from earlier 44 mt.

The all India average retail price of wheat was ₹29.70 per kg as of May 12, as against ₹28.10/kg three months back.

Pandey, though ruled out any immediate measures to contain exports, said that there could also be some reallocation in wheat distribution to some States under the regular National Food Security Act if they agree to receive more rice and less wheat, the sources said. The government has already made some changes in allocation by asking states to take 55 lakh tonnes of rice in place of wheat.

Retail inflation based on Consumer Price Index (CPI) surged to a nearly 8-year high in April to 7.79 per cent. i

Published on May 12, 2022
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