No unusual price volatility despite West Asia tensions, Government says; ample food stocks in place

The government on Monday said prices of essential commodities remain stable despite the ongoing crisis in West Asia, asserting that there has been no "unusual volatility" and that it is closely monitoring both wholesale and retail markets across the country.

Addressing an inter-ministerial briefing, Anupam Mishra, additional secretary in the Department of Consumer Affairs, said the Centre is “keeping a close watch on the food security situation in the country” amid global uncertainties.

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"What we have seen so far, there has been no unusual volatility in prices of the essential commodities," Mishra said.

He added that the department is tracking prices of 40 essential commodities on a daily basis across 528 centres, with both wholesale and retail rates updated through a mobile application. Alongside monitoring prices, the government is also ensuring adequate supply and working to prevent hoarding and black marketing.

On the supply front, Mishra said pulses production has improved compared to last year, with buffer stocks currently at around 28 lakh tonnes. Imports of tur and urad have also been kept under the free category until March 2027 to maintain availability.

For key vegetables such as onion, potato and tomato, production levels are largely unchanged from the previous year, indicating no immediate supply constraints. "So there are no supply side constraints. In fact, just we have also started procurement of onion for the buffer stock. So this would also take care of unusual volatility that we have in onion," he said.

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The Centre has also asked states to step up action against hoarding and black marketing under the Essential Commodities Act, 1955. “The department has been in constant touch with state governments. We have been sensitizing them, also requesting them to take action if there are any instances of black marketing and hoarding,” Mishra said.

A control room has been set up to maintain continuous coordination with states on pricing trends and complaints. "We are also keeping a close watch on the complaints that we are receiving on the National Consumer Helpline," he added, noting that LPG-related grievances are being forwarded to the petroleum ministry.

Separately, C Shikha, joint secretary in the Department of Food and Public Distribution, said the country has more than adequate foodgrain reserves. "Adequate buffer stock of both wheat and rice, almost three times the buffer stock norms," she said.

According to official data, wheat stocks stand at around 222 lakh tonnes and rice at about 380 lakh tonnes. "So this is quite enough to take care of PDS requirement as well as any emergency requirement," Shikha said, adding that there has been no price increase in either wheat or rice over the past year.

She also noted that domestic availability of edible oil remains comfortable despite global disruptions. "Domestic availability of edible oil remains comfortable despite global uncertainties. Imports from key partners are continuing steadily. Our key partners include Indonesia, Malaysia, Russia, Ukraine, Argentina and Brazil," she said, adding that higher mustard output has further supported supplies.

"The government will continue to monitor this closely and will intervene if required," she added.

Retail sugar prices, officials said, have also remained stable.