Government Reduces Wheat Stock Limits for Traders to Stabilize Prices
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New Delhi, Dec 11 (NationPress) In its ongoing mission to stabilize wheat prices, the Central government has opted to decrease the wheat stock limits for both wholesale and retail traders, effective until March 31, 2025.
The stock limit for wholesale traders has been cut from 2,000 metric tonnes to 1,000 metric tonnes, while for retail traders, it has been reduced from 100 metric tonnes to 50 metric tonnes, as stated by the Ministry of Consumer Affairs, Food and Public Distribution on Wednesday.
This reduction in stock limits aims to curb hoarding, a practice that can escalate prices even when sufficient stocks are available.
All parties involved in wheat stocking are mandated to register on the wheat stock limit portal (https://evegoils.nic.in/wsp/login) and are required to update their stock positions every Friday.
Entities failing to register on the portal or violating the stock limits will face appropriate penalties under Section 6 and 7 of the Essential Commodities Act, 1955, according to the official announcement.
If the stocks held by these entities exceed the specified limits, they must adjust to the mandated stock limits within 15 days following the notification.
The statement noted, “The Department of Food and Public Distribution is closely monitoring the stock levels of wheat to regulate prices and ensure sufficient availability across the nation,” it elaborated.
Furthermore, a total of 1,132 lakh metric tonnes (LMT) of wheat was produced during the Rabi 2024 season, indicating ample wheat availability in the country.
To enhance food security and prevent hoarding and dubious speculation, the Government of India has enforced stock limits on wheat applicable to traders, wholesalers, retailers, large chain retailers, and processors throughout all states and union territories.
The Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2024 was issued on June 24, 2024, and revised on September 9, 2024, applying to all states and union territories.
