The central government is taking steps to keep wheat prices under check and is making all efforts to prevent hoarding of wheat. In this context, the government has changed the stock limit applicable for wheat on Wednesday (December 11). Under this, there has been a big cut in the stock limit. Now wholesale and retail traders will be able to reduce the stock of wheat than before.
The stock limit for wholesale traders has been reduced from 2,000 tonnes to 1,000 tonnes and for retail traders from 10 tonnes to 5 tonnes. The government’s move will increase the supply of wheat in the system and is expected to keep prices under control. Currently, wheat sowing is underway and the new crop starts arriving in March. This limit is also till March.
Stock limit reduced to prevent hoarding
According to the Union Ministry of Consumer Affairs, Food and Public Distribution, the purpose of reducing the stock limit is to prevent hoarding, which increases prices despite availability of sufficient wheat. It was said by the government that the institutions storing wheat will have to register on the Wheat Stock Limit Portal (evegoils.nic.in/wsp/login).
It is necessary to update stock information every Friday
According to the ministry, it is necessary to update stock information every Friday. If a company does not register on the portal or violates the stock limit rules, strict action will be taken against it. If an institution collects more wheat than the prescribed limit, then it will have to maintain the new stock limit within 15 days of the notification being issued.
