Centre slaps stock limits on wheat traders to control prices

New Delhi, June 24 (IANS) The Centre has decided to impose stock limits on wheat that can be stored by wholesale and retail traders, big chain retailers and processors across all States and Union Territories of the country in order to prevent hoarding and speculation by unscrupulous elements that drive up prices.

The order has been issued with immediate effect on June 24 and will be applicable until March 31, 2025, for all States and Union Territories, the Ministry of Consumer Affairs, Food and Public Distribution said on Monday.

Stock limits will be applicable to each entity individually such as Traders/Wholesaler- 3000 MT; Retailer- 10 MT for each of the Retail outlets; Big Chain Retailer- 10 MT for each outlet and 3000 MT at all their depots and Processors- 70 per cent of Monthly Installed Capacity (MIC) multiplied by remaining months of FY 2024-25. These entities will have to declare the stock position and update them regularly on the portal (https://evegoils.nic.in/wsp/login) of the Department of Food and Public Distribution and in case the stock held by them is higher than the prescribed limit then they have to bring the same to the prescribed stock limits within 30 days of issue of this notification.

The order for wheat comes close on the heels of a similar order imposing stock limits on pulses issued last week as part of the government’s strategy to control prices and ensure overall food security in the country.