Wheat inventory restrict lowered. (File Photo: News18)
Wheat inventory restrict has been diminished from 1,000 MT to 500 MT for merchants and wholesalers
In order to stop hoarding and unscrupulous hypothesis, the federal government has lowered the inventory restrict of wheat that merchants can maintain, the federal government mentioned in a press release on Thursday. It revised downwards wheat inventory restrict from 500 MT to 1,000 MT for merchants or wholesalers.
“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 on every Friday. Any entity which is found to have not registered on the portal or violates the stock limits will be subject to suitable punitive action under Section 6 & 7 of Essential Commodities Act, 1955,” the Ministry of Consumer Affairs, Food and Public Distribution mentioned within the assertion.
According to the official launch, wheat inventory restrict has been diminished from 1,000 MT to 500 MT for merchants and wholesalers, from 70 per cent (of month-to-month put in capability multiplied by the remaining months of 2023-24) to 60 per cent (of month-to-month put in capability multiplied by remaining months until April 2024).
For large chain retailers, the wheat inventory restrict has been diminished from 1,000 MT in any respect their depots to 500 MT.
For retailers, the wheat inventory restrict has been stored unchanged at 5 MT for every retail outlet, in line with the assertion.
“In case the stocks held by 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 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,” in line with the official assertion.
