Government imposes stock limits on wheat till March 2024; to offload 15 lakh tonnes under OMSS to check prices

For the first time in 15 years, the government on Monday imposed stockholding limits on wheat with immediate effect till March 2024 in order to contain rising prices of the key commodity. The government also decided to offload 15 lakh tonnes of wheat to bulk consumers and traders from the central pool in the first phase under the Open Market Sale Scheme (OMSS).

“There has been an uptick in wheat prices in the past month. There has been an increase of close to 8 per cent at mandi level. Though wholesale and retail prices have not gone up that much, the government has imposed stock limit on wheat…” Food Secretary Sanjeev Chopra told reporters here.

The stock limit has been imposed on traders, wholesalers, retailers, big chain retailers and processors till March 31, 2024.

On reducing wheat import duty, the Secretary said there are no plans to tweak the policy as the country has enough supplies and even the ban on wheat exports would continue.

“The country has enough stock of wheat. Farmers and traders are holding the stock and there are also unscrupulous elements holding the stock. We are not looking at import as enough stock available in the country,” he said.

Besides wheat, the government has decided to offload rice under the OMSS and the quantity would be finalised later, he added. The official also said that there is no proposal to allow further export of sugar.