Govt Revises Wheat Stock Limit Until 31st March 2025 to Ensure Price Stability
The Indian government has enforced new wheat stock limits to regulate supply and prevent hoarding following a record 1132 LMT wheat production in Rabi 2024. Traders, retailers, and processors must comply with revised limits, with mandatory registration and weekly stock updates. Violators face legal action under the Essential Commodities Act, with a 15-day grace period for compliance.
The Government of India has taken proactive measures to regulate wheat stock levels and ensure price stability in the country. Following the record wheat production of 1132 LMT during the Rabi season of 2024, the government has enforced stock limits for various stakeholders, including traders, wholesalers, retailers, big chain retailers, and processors, in all States and Union Territories.
To manage food security and curb hoarding and speculation, the government introduced the Removal of Licensing Requirements, Stock Limits, and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2024, on June 24, 2024. This order was later revised on September 9, 2024, and December 11, 2024, with the current stock limit revisions extending until March 31, 2025.
The revised stock limits are as follows:
- Traders/Wholesalers: The existing limit of 1000 MT has been reduced to 250 MT.
- Retailers: Each retail outlet will now be allowed a maximum of 4 MT, down from the previous 5 MT.
- Big Chain Retailers: The stock limit per outlet has been revised to 4 MT, subject to a total stock cap based on the number of outlets they operate.
- Processors: The stock limit for processors will remain based on 50% of their monthly installed capacity (MIC), adjusted for the remaining months until April 2025.
In addition, all wheat stocking entities are required to register on the official wheat stock limit portal (https://evegoils.nic.in/wsp/login) and update their stock positions every Friday. Entities that fail to comply with the registration or exceed the revised stock limits will face legal consequences under Sections 6 and 7 of the Essential Commodities Act, 1955.
For entities already holding stocks exceeding the revised limits, the government has provided a grace period of 15 days from the notification date to bring their stocks in line with the new restrictions.
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Source : Krishi Jagran
