Centre mandates weekly wheat stock declarations to curb hoarding

BNE News Desk

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New Delhi: In response to production challenges caused by consecutive years of heat waves, the Indian government has mandated traders, major retailers, and food processors to declare their wheat stocks every Friday, commencing April. The move aims to combat hoarding and prevent price hikes in the face of diminished yields. 

Recent data reveals a decline in government wheat inventories, hitting a low of 9.7 million metric tons in March, the lowest since 2017. Despite efforts to boost procurement, challenges persist in meeting procurement goals, with 26.2 million tons purchased in 2023 against a target of 34.15 million tons.

The government has set a conservative target of 30-32 million tonnes for wheat procurement in the 2024-25 rabi marketing season. This decision follows consultations with state food secretaries and aims to ensure food security amid production uncertainties.

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BNE News Desk