Amid uptick in prices govt cuts stock limit for wheat traders, wholesalers to 2,000 tonnes

The government has decided to further reduce 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, Food Secretary Sanjeev Chopra announced on Thursday.

"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," news agency PTI quoted Chopra.

Earlier in June, the government had restricted these wheat players to a stock limit of 3,000 tonnes till March 2024.


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", thus reducing the stock limit to 2,000 tonnes.

"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.




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", thus reducing the stock limit to 2,000 tonnes.

"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.