As per the revised stock limit to be applicable till March 31, the government said traders/ wholesalers can keep only 250 tonnes of wheat as against the earlier norm of 1,000 tonnes.
Donald Trump and Vladimir Putin’s agreement to negotiate an end to the Ukraine war has sparked market optimism. Oil prices fell, stock futures rallied, and analysts anticipate energy and food trade flows to improve, though key uncertainties remain.
Traders can now hold only 2,000 metric tons of wheat against 3,000 metric tons earlier, the statement said.
After a meeting of the committee of ministers chaired by Home Affairs and Cooperation Minister Amit Shah, the government said it has directed officials to keep a close watch on wheat prices.
The Food Corporation of India (FCI) has sold more than 2.37 million tonne (MT) of wheat from its stock in the open market through weekly e-auctions this fiscal so far thus curbing increase in retail prices.. But, what is behind the soaring wheat prices .. Catch Manisha Gupta in conversation with Ajay Goyal, Owner, Shivaji Roller Flour Mills as they discuss key reasons for the price rise globally
The All-India Consumer Wholesale Price of wheat was up 6.2 percent to ₹2,633 per quintal on August 2, from ₹2,480 a year ago.
The drone attack that left seven people wounded is a continuation of the air raid Russia launched last week after pulling out of the Black Sea grain deal. It comes amid a sharp rise in global wheat and corn futures.
As the festive season approaches, households are reeling from spiraling prices in many commodities and vegetables. Government efforts to check price rise by augmenting supplies must be complemented by private trade.