New Delhi imposes limit on wheat storage to curb rising prices
The Indian government has imposed a limit on the storage of wheat in order to control prices in the wholesale and retail market. The move comes as the prices of wheat have increased by about 8% in the last month. The government will release 1.5 million tonnes of wheat to bulk consumers and traders under the first phase of the Open Market Sale Scheme (OMSS) at the end of June. This is the first time in 15 years that the government has imposed a stock limit on wheat, which will be in effect until March 2024.
Key points:
– The Indian government has imposed a limit on the storage of wheat to control prices
– The government will release 1.5 million tonnes of wheat to bulk consumers and traders under the first phase of the OMSS
– The stock limit will be in effect until March 2024
– This is the first time in 15 years that the government has imposed a stock limit on wheat
– The prices of wheat have increased by about 8% in the last month
– There is no plan to change the policy to reduce the import duty on wheat
– The ban on export of wheat will also continue
– The country has sufficient stock of wheat
Food Secretary Sanjeev Chopra has stated that sufficient stocks of wheat are available in the country and there is no plan to change the import policy. The ban on wheat export will continue as before, and there is no proposal to allow further export of sugar. Chopra has also announced that the government has decided to launch rice under the OMSS, and the quantum will be finalized later.
This move by the Indian government is aimed at curbing the rising prices of wheat and wheat flour in the wholesale and retail market. The stock limit on wheat will be in effect until 2024, and the government will release 1.5 million tonnes of wheat to bulk consumers and traders under the OMSS. The country has sufficient stock of wheat, and there is no plan to change the import policy. The ban on wheat export will continue as before, and there is no proposal to allow further export of sugar.
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