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First rice, now wheat: Govt cuts stock limit fearing price rise
Monday, 12 February, 2024, 08 : 00 AM [IST]
Ashwani Maindola, New Delhi 
After rice, the Union Government has cut the stock limit for wheat fearing price rise due to low production possibility in the current season.

According to trade analysts, it was due to the decrease in the production of food commodities at the global level this year and the continuing war conflict between Russia and Ukraine blocking the Black Sea route for trade impacting the wheat prices.

The prices have grown considerably and even at the local level, this year due to inclement weather, production has been  decreased as rain was weak and weather remained dry at many wheat growing areas. 

As this year is an election year, the government is also worried and has imposed export ban and export tax on many grain related items so that the supply in the country was not disrupted.

The Central Government order amending the wheat stock limits for traders, wholesalers, retailers, large chain retailers and processors for all states applicable will be till March 31, 2024.

The Central Government has decided to revise the wheat stock limit for traders and wholesalers to 500 tonne instead of 1,000 tonne and for processors, 60% of the monthly installed capacity reduced from 70%.

There has been no change in the stock limits (5MT) of retailers while big chain retailers were asked to keep stocks of 500MT at their depot instead of 1000MT.

Shankar Thakkar, state general secretary of CAIT, has said that from the stock limit imposed by the government, it appears that this is a hasty decision for keeping the prices under control.

"However, if the stock limit is reduced from the supply end then the supply to retailers may get disrupted. And this could lead to difficulties for the consumers", he said.
 
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