In preparation for the upcoming festive season, the government is actively devising a strategy aimed at controlling wheat prices, which may involve increasing the sale of wheat in the open market.
Speaking at a gathering of wheat millers, Food Secretary Sanjeev Chopra underscored that the nation currently possesses an ample supply of wheat, and the government is earnestly exploring various avenues to effectively manage and stabilize prices.
Chopra articulated, "There's absolutely no shortage of wheat in the country, and the government is actively considering all available options to ensure price stability."
Earlier this month, Chopra had indicated the government's intention to release additional wheat stocks into the open market, a move designed to safeguard price stability during the forthcoming festive season.
It's noteworthy that Chopra's consistent statements align with industry demands for the removal of the 40 percent import tax on wheat, a measure aimed at averting price surges resulting from potential shortages.
However, the government has unequivocally stated that it holds significant wheat reserves and intends to address any scarcity concerns through open market sales, with no current plans to waive the import duty on wheat.
Over the past few months, wheat prices, like those of other cereals, have experienced a notable upswing. Wholesale wheat prices reached a seven-month high in August, prompting concerns about both the affordability and availability of this essential staple.
It is important to highlight that in August, the government made a commitment to provide 5 million metric tons of wheat and 2.5 million tons of rice to bulk consumers, with a specific focus on assisting flour millers.
Furthermore, data sourced from the Ministry of Consumer Affairs indicates that the average price of wheat has remained relatively steady over the past month.
