Home / News / Govt says will take steps to curb any abnormal rise in wheat prices

The Central government said on Wednesday that it will take steps if the prices of wheat rise abnormally in the country while asserting that it was closely monitoring the prices in the retail market. Union Food Secretary Sanjeev Chopra said the wheat and rice stocks position is comfortable. He said it was above the buffer requirements of the government.

Union Minister Sanjeev Chopra said, “Rice prices are just flat. Wheat prices have gone up by 7 per cent in retail after the imposition of the wheat ban in May and if we take into account the increase in Minimum Support Price (MSP), the price rise is 4-5 per cent."

In May 2022, the Centre banned exports of wheat to boost domestic supplies and control prices. It is wheat procurement fell to 187.92 lakh tonnes in 2022-23 marketing year from 434.44 lakh tonnes due to fall in domestic output and aggressive purchase by private parties. Again in September, the Centre banned exports of broken rice, anticipating fall in the rice production.

When asked if the Union ministry was looking at any steps to control the wheat prices, Sanjeev Chopra said, “The position right now does not warrant any other measures other than what has already been done. If we see any kind of abnormal increase in prices, then obviously, we will step in with measures at our command."

When asked about edible oil, Sanjeev Chopra said the domestic prices are likely to reduce as the prices outside the country are seeing a downward trend.

On PMGKAY – the free ration scheme – Sanjeev Chopra said the Centre will take a decision on whether to extend the scheme or not.

On prices situation of essential items, Food Corporation of India (FCI) MD Ashok KK Meena said, “In comparison to last month, there is a marginal increase in retail and wholesale prices of wheat and wholesale price of rice. There is negligible hike in the retail price of rice and prices are under control."

(With agency inputs)

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