New Delhi [India], June 24 (ANI): The Central government on Monday imposed a stock limit on wheat until 31 March 2025 across all States and Union Territories. The government has taken this step to ensure the food security and curb the hoarding of Wheat in the country.
The Ministry of Consumer Affairs, Food & Public Distribution announced that the stock limit for traders and wholesalers is 3000 metric tons (MT), while for retailers, the limit is 10 MT per retail outlet.
For big chain retailers, the storage limit is 10 MT per outlet and 3000 MT across all their depots. For processors, the limit is 70 percent of the Monthly Installed Capacity (MIC) multiplied by the remaining months of the fiscal year 2024-25.
The ministry explained that this move aims to manage overall food security and prevent hoarding and unscrupulous speculation. “The Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2024 has been issued with immediate effect from today i.e. 24th June 2024 and will be applicable until 31st March 2025 for all States and Union Territories,” stated the Ministry.
The ministry stated that the entities must declare their stock positions and update them regularly on the portal of the Department of Food and Public Distribution.
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If the stocks held exceed the prescribed limits, entities must reduce them to the prescribed limits within 30 days of this notification’s issuance. By imposing these stock limits, the government aims to create a more transparent and equitable food distribution system, thereby securing the interests of the common man and maintaining market stability. (ANI)
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