Wheat Price: Flour can be cheaper by Rs 10, government is going to do this work to reduce inflation – atta price to come down center to sell 20 lakh tonnes of wheat in open market
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Sources said the proposal to sell the wheat stock in the open market was taken up by a group of ministers. It has been decided to sell 50 lakh tonnes (30+20 lakh tonnes) of wheat under OMSS so far, the statement said. Decisions like reduction in reserve price along with additional sale of 2 million tonnes of wheat will help in bringing down the market price of wheat and wheat products for the consumers. Union Food Secretary Sanjeev Chopra held an online meeting with representatives of FCI and flour millers/various associations/federations/semolina products manufacturers to review the lifting of stocks in the 2nd round of e-auction held recently.
how much will the price go down
The flour mills have been advised to reduce the prices of flour and other products commensurate with the reduction in the market price of wheat, the statement said. The Food Ministry said that the prices of wheat and flour have come down after the announcement of the OMSS policy, but the inflation figure for January 2023 remained at a three-month high of 6.52 percent. According to government data, the average price of wheat was Rs 33.15 per kg in major cities on Monday, while the average price of atta (wheat flour) was Rs 37.63 per kg. Last month, the government had announced plans to sell three million tonnes of wheat in the open market from its buffer stock under OMSS. Out of 30 lakh tonnes, FCI is selling 25 lakh tonnes of wheat to bulk consumers like flour mills and 2 lakh tonnes of wheat to States/UTs.
For converting wheat into flour, three lakh tonnes of wheat is being made available at a subsidized rate to institutions and state-public undertakings. About 13 lakh tonnes of wheat has been sold in two rounds of e-auction for bulk consumers. FCI will sell 11.72 lakh tonnes of wheat during the third e-auction to be held on February 22. Last week, the ministry reduced the reserve price of fair and average (FAQ) quality wheat to Rs 2,150 per quintal, while that of quality exempted (URS) wheat to Rs 2,125 per quintal. These new reserve prices are applicable from the third round of sale of wheat through e-auction.
Wheat Price: Like Pakistan, the price of flour will not be uncontrollable in India, the government is taking this step
worry about rising temperatures
Further, the rate of wheat reduced to Rs 21.50 per kg for selling wheat to NCCF/NAFED/Kendriya Bhandar/State Government Cooperative Societies/Federations as well as community kitchens/charitable institutions/NGOs etc. for making wheat flour And then the consumers have been asked to sell at the rate of Rs 27.50 per kg. To control the price, the Center had banned the export of wheat in May last year. India’s wheat production declined to 107.74 million tonnes in the 2021-22 crop year (July-June) from 109.59 million tonnes in the previous year.
This year’s procurement has come down drastically to 19 million tonnes as against last year’s procurement of about 43 million tonnes. In the current crop year 2022-23, the production of wheat is estimated to increase to 112.18 million tonnes due to more area under cultivation and better yield. However, the increase in temperature during this month in major producing states has again become a matter of concern for agricultural scientists and policy makers. The government on Monday constituted a committee to monitor the situation arising out of abnormal rise in temperature and its impact on wheat crop and issued necessary advisories to farmers to save the crop.
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