Government imposes stock limits on wheat to prevent hoarding
The Hindu
In order to manage overall food security and to prevent hoarding and unscrupulous speculation, the government has decided to impose stock limits on wheat for traders, wholesalers, retailers, big chain retailers and processors. The order will be applicable with immediate effect and will be applicable until March 31, 2024.
In order to manage overall food security and to prevent hoarding and unscrupulous speculation, the government has decided to impose stock limits on wheat for traders, wholesalers, retailers, big chain retailers and processors. The order will be applicable with immediate effect and will be applicable until March 31, 2024.
Stock limits will be applicable for each entity individually such as: traders/wholesalers- 3000 tonne; Retailer- 10 tonne for each of the retail outlets; Big Chain Retailer- 10 tonne for each outlet and 3000 tonne at all their depots and Processors - 75 per cent of annual installed capacity.
"Respective legal entities, as above, have to declare the stocks 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 stocks 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," an official release said late on June 12, Monday.
Also read: Centre caps tur and urad dal stocks to prevent hoarding, speculation
Further, the centre has also decided to offload 15 lakh tonnes of wheat in the first phase from central pool stock under Open Market Sale Scheme to control retail prices of wheat.
Wheat will be sold in lot sizes of 10-100 tonnes. Registration for this auction is open on the FCI's e-auction platform. It has also been decided to offload rice under the open market scheme in order to moderate the prices.
The quantity for the first phase of the e-auction for rice will be decided shortly.The imposition of stock limits on wheat along with offloading of wheat and rice are part of the consistent efforts made by the government to stabilize the prices of essential commodities.
Kozhikode School Arts Festival ends with City sub-district leading, featuring 12,000 students in 300 events across 20 venues.
Missionaries from USA, France, and Europe aided in the growth of Madras Presidency, benefiting Tamil Nadu in healthcare and education.
Chennai Metro Rail's TBM Kalvarayan to breakthrough at Perambur in January, connecting Ayanavaram in Phase II project.
Bharatiya Kisan Sangh and Agro Food Trade Centre sign MoU to address farmers' challenges, introduce eSHED platform.
Jharkhand Assembly election results show BJP's "Bangladeshi infiltration" rhetoric failed, with NDA losing ST seats and INDIA bloc gaining.
JMM-led alliance retains Jharkhand Assembly with highest vote share, defeating BJP in a humiliating defeat.
Greater Chennai Corporation celebrates World Heritage Week with guided heritage walk at Ripon Buildings, educating residents on city's history.
MVA critiques BJP-led Mahayuti alliance after unexpected Maharashtra Assembly election results, questioning voter support and electoral integrity.
Mahayuti sweeps Maharashtra Assembly election with BJP as largest party, MVA routed, no Leader of Opposition expected.
Speakers honor S.S. Badrinath's legacy in ophthalmology, emphasizing his commitment to affordable eye care and training doctors nationwide.
Capt. Brijesh Chowta, Dakshina Kannada MP, on Saturday urged Union Finance Minister Nirmala Sitharaman to facilitate speeding up of ongoing critical infrastructure works in the region, including Mangaluru-Bengaluru NH 75 widening, establishment of Indian Coast Guard Academy, and merger of Konkan Railway Corporation with the Indian Railways.