India News | Centre Further Reduces Wheat Stock Limit for Traders, Wholesalers, Big Chain Retailers
Get latest articles and stories on India at LatestLY. In order to manage the overall food security and to prevent hoarding and unscrupulous speculation, the Central government imposed stock limits on the wheat applicable to Traders, wholesalers, Retailers, Big Chain Retailers and Processors for all States and Union Territories.
New Delhi [India], September 14 (ANI): With the prices of wheat showing an increasing trend, the Central Government on Thursday announced to reduce the wheat Stock limit from 3,000 MT to 2,000 MT applicable to traders, wholesalers, retailers, big chain retailers and processors.
Talking to ANI about the decision, Sanjeev Chopra, Secretary, the Department of Food and Public Distribution, said that to soften the prices of wheat which are showing an increasing trend, Central Government has decided to revise the wheat Stock limit from 3,000 MT to 2,000 MT with respect to Traders/Wholesalers and Big Chain Retailers, which as for Traders/Wholesaler, stock limit is 2,000 MT, whereas, stock limit for Big Chain Retailer is 10 MT for each outlet and 2000 MT at all their depots.
For other categories, there is no change in stock limits.
In order to manage the overall food security and to prevent hoarding and unscrupulous speculation, the Central government imposed stock limits on the wheat applicable to Traders, wholesalers, Retailers, Big Chain Retailers and Processors for all States and Union Territories.
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The Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2023 was issued on 12 June 2023 and is applicable until 31st March 2024 for all States and Union Territories.
The secretary further informed that all wheat stocking entities are required to register on the wheat stock limit portal (https://evegoils.nic.in/wsp/login) and update the stock position every Friday.
Any entity that is found to have not registered on the portal or violates the stock limits will be subject to suitable punitive action under Sections 6 & 7 of the Essential Commodities Act, 1955.
In case the stocks held by the above entities are higher than the above-prescribed limit, they shall have to bring the same to the prescribed stock limits within 30 days of the issue of the notification.
Officials of Central and State Governments will be closely monitoring enforcement of these stock limits to ensure that no artificial scarcity of wheat is created in the country, he added.
It is notable that in view of some reports of holding stocks to create artificial price rises, the Department of Food and Public Distribution is maintaining a close watch over the stock position of Wheat to control prices and ensure easy availability in the country. (ANI)
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