Wheat price: Unlike in Pakistan, wheat prices in India will not go out of control and the government is taking this step

New Delhi: There is an uproar and clamor in Pakistan over flour. In India too, the average price of flour rose to Rs 38 per kg. The government will sell 3 million tonnes of wheat and wheat flour from its buffer stock in the open market to contain rising prices of wheat and flour. Under the Open Market Sale Scheme (OMSS), the food ministry will sell 30 lakh tonnes of wheat in the open market, sources said. Wheat stock will be sold to flour mills and traders. The country’s wheat production fell to 106.84 million tonnes from 109.59 million tonnes in the 2021-22 crop year (July-June) due to heat wave in some growing states.

On January 19, Food Secretary Sanjeev Chopra had said that the retail prices of wheat and flour have gone up and the government will take immediate steps to control the price hike. Under the OMSS policy, the government body Food Corporation of India (FCI) is allowed to sell food grains, especially wheat and rice, to bulk consumers and private traders at predetermined prices from time to time. open market. Its objective is to increase the supply of special grain during the off-season and control the price in the general market. Even flour mills have asked the FCI to the government to bring grain from the wheat stock in the market.

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Export ban

“We are seeing an increase in the prices of wheat and flour,” Chopra had said. We are aware of this issue. The government is looking at various options and we will respond soon. The Secretary had said that FCI godowns have enough wheat and rice in stock. The Center had banned wheat exports in May to control prices following a slight decline in domestic production and a sharp fall in FCI procurement to the central pool.

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This year’s stockpiles have come down to 19 million tonnes from last year’s nearly 43 million tonnes. Area under wheat crop is slightly higher during the current rabi (winter-seed) season. The storage of new wheat crops will start from April 2023. Its price has increased by seven percent this month. Last year there was a 37 percent increase in the price of wheat in the country. On Monday, wheat prices rose nearly two percent to Rs 31,508 per tonne in Delhi. According to experts, if the government does not release the stock of wheat in the next 15 days, its price may increase by five to six percent.