look news india
Mumbai: From April 1, the country’s wheat traders and processors will have to announce their wheat stock every week. Government sources said that the current stock limit will end on 31 March. It is believed that this decision of the government has been taken under efforts to stop the hoarding of wheat.
The Department of Consumer Affairs has stated that the government has made it mandatory for traders, retailers, wholesalers and processors to announce wheat stock every Friday to maintain food security in the country and prevent betting.
The standard wheat stock limit for all ends on 31 March. Traders will have to declare stock status on the government portal.
The government is closely monitoring efforts to artificially increase the prices of wheat in the country. Meanwhile, the government has started purchasing the Rabi season wheat on support price in various states of the country.
The main Rabi crop is expected to fall in some parts of the country before the harvesting of wheat and the production of wheat is expected to decline due to rising temperature and light rain.
On the other hand, most of the wheat was sold in the recent wheat auction organized by the government. Keeping in mind the fact, the government is keeping an eye on the stock of wheat that there has been an increase in the proposed price in the auction due to the possibility of wheat production being reduced.