Govt further cuts stock limit on wheat traders, retailers amid price rise

The government on Thursday further reduced the stock limit on wheat traders, wholesalers and big chain retailers to 2,000 tonnes from 3,000 tonnes with immediate effect amid uptick in prices.

Announcing the decision, Food Secretary Sanjeev Chopra said: "Keeping in view of recent uptick in the prices, we have had a review of the stock limits and effective today the stock limit on traders, wholesalers and big chain retailers stand reduced to 2000 tonne."

Three months back on June 12, the government had imposed a stock limit of 3,000 tonnes on these wheat players till March 2024.

The stock limit has been reduced to 2,000 tonnes as the government found there is an "an uptick in the wheat prices on the NCDEX by 4 per cent to Rs 2,550 per quintal in the past one month."

"Although there is adequate availability of wheat in the country, I think there are some elements which are trying to create some artificial scarcity," Chopra told reporters.