The central government has stated that it will take action to assure the supply of wheat in the market and maintain its price under control, even as warnings that the price of the grain would continue to firm up in the lead-up to Diwali.
Food and Public Distribution Secretary Sudhanshu Pandey said on Monday that the government will take measures if there is a supply shortage and prices continue to rise, including requiring dealers to reveal their stock position and keeping an eye on hoarders. He was giving a speech at a gathering that the Roller Flour Millers Federation was hosting.
According to Pandey, who said that the nation only exported 4.5 million tonnes (mt) of grain this year, India has enough wheat supply to meet its internal demands as well as the needs of the public distribution system. Although government data suggests that wheat output would be little under 107 mt in the crop year 2021–2022, the trade predicts it will be 95–98 mt.
Pandey stated that “speculative trading” had increased prices and that the Food Corporation of India had 24 mt of wheat in its silos. According to trade estimates, the costs, which are currently around $24 per kg in procurement hubs like Uttar Pradesh, Madhya Pradesh, Punjab, and Haryana, are anticipated to climb by $1 due to higher demand during the festival season. “Transportation costs and the cost of storing the wheat, which is 20 paise per kg,” will be added to it.
