Stock Limit On Wheat After 15 Years To Check Rising Prices, Hoarding

The government also decided to offload 15 lakh tonnes of wheat to bulk consumers and traders from the central pool from month-end under the Open Market Sale Scheme.

For the first time in 15 years, the government on Monday imposed stock limits on wheat with immediate effect till March 2024 in a bid to check hoarding and contain rising prices of the key commodity.

The government also decided to offload 15 lakh tonnes of wheat to bulk consumers and traders from the central pool from month-end under the Open Market Sale Scheme (OMSS). Apart from wheat, rice will be offloaded to bulk buyers under the OMSS and the quantity will be decided in due course of time.

The government made it clear that it has no plans to tweak the wheat import policy as the country has ample stock. It further said the ban on wheat export would continue and further export of sugar will be not permitted as of now.

The stock limit on wheat has been imposed until March 2024 just before the commencement of General Elections to control prices. Last time, the stock limit was imposed in 2008.