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No motion to regulate wheat costs but: Meals Secretary Sanjeev Chopra

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The federal government has dominated out any motion to regulate wheat costs because it retains an in depth watch on the worth motion of the commodity. The worth rise of the meals grain is in tandem with the rise within the minimal assist worth (MSP) and basic inflationary tendencies, stated Sanjeev Chopra, secretary, the Division of Meals.

“Rice costs are simply flat. Wheat costs have gone up by 7 p.c in retail after the imposition of wheat ban in Might and if we bear in mind the rise in minimal assist worth (MSP), the worth rise is 4-5 per cent,” he stated.

Chopra stated that no determination has been taken but on Open Market Sake Scheme (OMSS) of wheat to chill down the costs including that the inventory place of wheat and rice are comfy and greater than the buffer norms.

The federal government may have 113 LMT of wheat on April 1, 2023 towards the buffer inventory of 75 LMT required. The projected inventory place of rice as of April 1, 2023 is 237 LMT towards the buffer norm of 137 LMT.
The federal government has procured 277.37 LMT of paddy as on November 21 this 12 months in comparison with final 12 months’s 263.42 MT throughout the identical interval. Nevertheless, its wheat procurement fell to 187.92 lakh tonnes within the 2022-23 advertising and marketing 12 months from 434.44 lakh tonnes because of fall in home output and aggressive purchases by personal events.

On edible oil, Chopra stated the retail costs of cooking oils are on a downward pattern and charges are prone to scale back additional.

In Might, the federal government had banned exports of wheat to augur home provides and preserve costs below management. In September, it additionally banned exports of damaged rice.

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