Inflation: To control the price of flour, the government will open stores, will sell 30 lakh tonnes of wheat from the buffer stock
[ad_1]
New Delhi : The price of wheat flour in India is at its peak. To control its price, the Modi government at the center has decided to open its own store. There is news that in order to control the prices of flour in the country, the government will sell about 30 lakh tonnes of wheat and its flour in the open market from its buffer stock. At present, the average prices of flour in the country have increased to around Rs.38 per kg. Sources said that the Food Ministry will sell 30 lakh tonnes of wheat in the open market under the Open Market Sale Scheme (OMSS). Apart from others, wheat stock will be sold to flour mills and traders.
Wheat will be sold through FCI
Food Secretary Sanjeev Chopra had said on January 19 that the retail prices of wheat and flour have gone up and the government will soon take steps to control the rising rates, reported news agency Bhasha. Under the OMSS policy, the government allows the Food Corporation of India (FCI), a state-run undertaking, to sell food grains, especially wheat and rice, at pre-determined prices in the open market to bulk consumers and private traders from time to time. Its purpose is to increase its supply during the off season of the particular grain and to rein in the general open market prices.
Food secretary had given hints only last week
Flour mills have demanded the government from FCI to bring grains from wheat stock to the market. Food Secretary Sanjeev Chopra said last week, ‘We are seeing that the prices of wheat and flour are rising. We are aware of this issue. Various options are being explored by the government and very soon we will give our response. The secretary had said that there is sufficient stock of wheat and rice in FCI godowns.
Last year there was a ban on the export of wheat
The Center had banned wheat exports in May to control prices following a marginal decline in domestic production and a sharp drop in FCI procurement for the central pool. India’s wheat production declined to 106.84 million tonnes in the 2021-22 crop year (July-June) from 109.59 million tonnes in the previous year due to heatwave conditions in some growing states. As against last year’s purchase of about 43 million tonnes, this year’s procurement has come down to 19 million tonnes. The area under wheat crop is slightly higher in the current rabi (winter sown) season. The procurement of new wheat crop will start from April, 2023.
[ad_2]
Source link
