Terming the rise in wheat costs as “not unusual”, the federal government on Monday stated it has a “comfortable” inventory place and can intervene as and when required.
Addressing a press convention, Food and Public Distribution Secretary, Sudhanshu Pandey stated: “The rise in prices is not unusual as it is being anticipated or assumed.”
Pandey’s remarks assume significance in view of the sharp rise within the costs of wheat and atta (wheat flour) in current months. According to the meals division, the wholesale value of wheat was recorded at Rs 2,757 per quintal, which is eighteen.26 per cent (Rs 2,331 per quintal) over a 12 months in the past and 11.42 per cent (Rs 2,474 per quintal) greater than two years in the past. ,
Asked when the federal government would intervene, Pandey stated: “When the government feels that the increase is abnormal, it will intervene.”
“We have stock position of both rice and wheat and there is nothing to worry and we also have surplus available for market intervention if required,” Pandey stated.
on Monday, Indian Express had knowledgeable that throughout the first 5 months (April-August) of the monetary 12 months 2022-23, Indian wheat exports doubled from final 12 months’s stage, India exported 43.50 lakh metric tonnes (LMT) of wheat throughout April-August 2022-23, a rise of 116.7 per cent over the identical month final 12 months.
Sharing the main points of the inventory place, the officers stated that towards the buffer requirement of 205 LMT on the primary day of October, 227 lakh MT of wheat was obtainable within the central pool as on October 1, 2022.
With inputs from TheIndianEXPRESS
