Centre imposes stock limit on Wheat

     Raipur, June 24, 2024: Government of India today decided to impose stock limits on wheat to prevent hoarding and unscrupulous speculation.

     The stock limits on wheat will be applicable to traders, wholesaler, retailers, big chain retailers and processors for all states and union territories, Union Consumer Affairs Ministry sources said.

. The Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2024 has been issued with immediate effect from today June 24, 2024 and will be applicable until 31st March 2025 for all States and Union Territories, the order said.

     In order to manage the overall food security and to prevent hoarding and unscrupulous speculation, the Government of India has decided to impose the stock limits on wheat, the sources clarified.

     Stock limits will be applicable to each entity individually such as traders/wholesaler- 3000 MT; retailer- 10 MT for each of the retail outlets; big chain retailer- 10 MT for each outlet and 3000 MT at all their depots and processors- 70% of monthly installed capacity (MIC) multiplied by remaining months of FY 2024-25.

     All of them will have to declare the stock position and update them regularly on the portal (https://evegoils.nic.in/wsp/login) of the Department of Food and Public Distribution and in case the stock held by them are higher than the prescribed limit then they have to bring the same to the prescribed stock limits within 30 days of issue of this notification, the order said.