A labourer piles up wheat grain at a Grain Market, in Gurugram. (PTI File Photo)
The wheat inventory restrict has been diminished to 1,000 tonnes from the prevailing 2,000 tonnes for merchants/wholesalers, says Food Secretary Sanjeev Chopra
To curb the hoarding of wheat and to verify its worth rise, the central authorities on Friday additional tightened inventory holding norms for wholesalers, retailers, large chain retailers and processors with instant impact.
Briefing media, Food Secretary Sanjeev Chopra stated the wheat inventory restrict has been diminished to 1,000 tonnes from the prevailing 2,000 tonnes for merchants/wholesalers.
The inventory restrict can be 5 tonnes as an alternative of 10 tonnes on every retailer, 5 tonnes for every depot of an enormous chain retailer and a complete of 1,000 tonnes for all their depots, he stated.
In case of processors, they’ll maintain 70 per cent of month-to-month put in capability multiplied by the remaining months of 2023-24, he added.
“This has been done to prevent artificial scarcity and curb hoarding. The revised stock limits will be applicable from immediate effect,” Chopra stated.
The merchants will get 30 days time to cut back the inventory to the revised limits, he added.
All wheat stocking entities are required to register on the wheat inventory restrict portal (https://evegoils.nic.in/wsp/login) and replace the inventory place each Friday, an official assertion stated.
Any entity which is discovered to haven’t registered on the portal or violates the inventory limits can be topic to appropriate punitive motion beneath Section 6 and seven of the Essential Commodities Act, 1955.
It was on June 12, the Food Ministry had imposed inventory holding limits on totally different sorts of merchants until March 2024.
Initially, the inventory restrict of three,000 tonnes was imposed on merchants and wholesalers, 10 tonnes on retailers, and 10 tonnes for every outlet of massive chain retailers and three,000 tonnes in any respect their depots. In the case of processors, 75 per cent of annual put in capability.
Subsequently, the inventory restrict was additional diminished on September 14, to 2,000 tonnes every for merchants/wholesalers, and in addition for giant chain retailers in any respect their depots.
Besides inventory limits, the federal government has taken varied steps to make sure home availability and verify worth rise.
There is ban on wheat export since May 2022, offloading wheat at subsidised fee to bulk customers beneath the open market sale scheme.
Meanwhile, the federal government has additionally banned exports of onion until March subsequent 12 months, as a way to improve home availability and to maintain costs in verify. “Export policy of onions… is amended from free to prohibited till March 31, 2024,” the Directorate General of Foreign Trade stated in a notification.
(With PTI Inputs)
